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BNP Paribas Corporate and Institutional Banking today announced that it has consolidated its global listed derivatives services onto a single, standardised platform hosted by Fidessa.
The bank has moved its trading of exchange traded derivatives onto Fidessa’s order and execution management system. The platform connects the bank’s clients to major exchanges and trading venues across the globe and acts as a central hub for risk management.
The bank’s institutional investors and corporate clients can leverage BNP Paribas’ market infrastructure, available 24 hours a day, to manage their listed derivatives trading needs. The platform’s open architecture ensures clients can submit orders through single- and multi-dealer platforms, as well as via traditional voice means.
Raphael Masgnaux, global co-head of Prime Solutions & Financing and G10 Rates, BNP Paribas, said: “If you look across derivatives markets, the trend is towards more listing of products on exchanges and increased centralised clearing, and yet there are fewer global banks around today which can provide the full range of services.
“We’re pleased to confirm that we’re fully committed to the business. We’ve been clearing for more than 30 years and we have a longstanding tradition of expertise in derivatives. We’ve invested in the best available platform which should bring immediate improvements for our clients and important future-proofing. It will also reduce costs for BNP Paribas and boost productivity, and we’re pleased to be working with Fidessa which has a long history of success and reliability in this business.”
The platform went live for major institutional investor clients in July and is fully integrated with BNP Paribas’ clearing systems.
Listed derivatives clearing and execution is offered through BNP Paribas’ Prime Solutions & Financing business line. The bank also offers financing, global and sub- custody of assets, fund administration, prime brokerage and collateral management.
