BNP Paribas has outsourced its listed derivatives trading to Fidessa’s order and execution management system.
Through the platform, Fidessa will manage complex workflow requirements for the French bank’s futures and options trading operations across Europe, North America and Asia Pacific.
BNP Paribas will also leverage Fidessa’s derivatives algorithms, including benchmark algorithms and advanced synthetic order types.
According to Raphael Masgnaux, global co-head of prime solutions & financing and G10 rates at BNP Paribas, consolidated trading activities onto outsourced platforms will allow banks to continue servicing the listed derivatives and centrally cleared market.
“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,” says Masgnaux.
“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.
“Like many of our customers, they recognise the value of our industrial-strength workflow and a global footprint that allows us to support them around the world,” adds Justin Llewellyn-Jones, global head of derivatives, Fidessa.