BNP Paribas Securities Services (‘BNP Paribas’) is pleased to announce the latest developments in the Bank’s post-trade support on Multilateral Trading Facilities (‘MTFs’). In the wake of MiFID and the code-of-conduct, BNP Paribas has been taking important steps to offer its products and services in conjunction with these important new trading venues and exchanges. BNP Paribas is now live and signing new clients to provide clearing and settlement on the following exchanges: Chi-X, Turquoise, Nasdaq OMX, SmartPool, Equiduct Trading and BATS Trading.
BNP Paribas has put together a dedicated team to migrate its clients onto any of the current or future MTFs. Through its ClearSuite solution, the Bank set-out a strategy aligned to working with the new MTFs and the Central Counterparties (‘CCPs’) to address the different needs of both the buy-side trading participants as well as the sell-side. Our hybrid model enables buy-side clients to trade directly with the MTFs, at the same time we offer GCM services on the CCP to sell-side clients.
Alan Cameron, Head of Clearing, Settlement & Custody Client Solutions at BNP Paribas added: “Our ClearSuite product offers clients access to more exchanges, MTFs, CCPs and CSDs. It is a compelling proposition for clients facing fragmenting markets. Agent banks, such as BNP Paribas, have a key role to play in helping clients through this complicated infrastructure. This is important if Europe’s capital markets are to compete globally.”
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 3 strongest banks in the world according to Standard & Poor’s. The group is present in over 85 countries, with more than 168,000 employees, including 129,500 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank’s two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
About BNP Paribas Securities Services
As a wholly owned subsidiary of BNP Paribas, BNP Paribas Securities Services (www.securities.bnpparibas.com) is the world’s highest rated custody bank (Standard & Poor’s AA+). With €3.6 trillion assets under custody, €744 billion assets under administration and close to 6,000 funds administered, BNP Paribas Securities Services is the eurozone’s leading securities services provider and rated number 5 in the world.
BNP Paribas Securities Services has a unique multi-local model, servicing both the buy-side and sell-side with 5,600 employees worldwide, a local presence across 25 countries and global coverage of 100 markets.