BNP Paribas Securities Services ('BNP Paribas') is rolling out 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. Its hybrid model enables buy-side clients to trade directly with the MTFs, and at the same time it offers GCM services on the CCP to sell-side clients. "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," said Alan Cameron, head of clearing, settlement and custody client solutions at BNP Paribas, in a press release.