BNP Paribas and GTS Announce Strategic Collaboration
(Thomson Reuters ONE) -
BNP Paribas to Leverage GTS' Trading Technology to further improve pricing to
clients in the secondary market for U.S. Treasuries
This Strategic Collaboration Marks a New Era for Banks and
Electronic Market Makers
NEW YORK, Nov. 16, 2017 (GLOBE NEWSWIRE) -- BNP Paribas, a leading European
provider of banking and financial services, and GTS, a New York-based global
electronic market maker, today announced a strategic collaboration marking a new
era for banks and electronic market makers. This collaboration will enable BNP
Paribas to leverage GTS' trading and technology capabilities with the goal of
providing BNP Paribas's clients with deeper liquidity, tighter spreads and
further improved pricing in the US Treasuries secondary market.
BNP Paribas, with its strong presence in corporate and institutional banking and
its top-ranked position in a number of fixed income and equity markets, and GTS,
with its technology and electronic market making capabilities, will leverage
their respective strengths to continue to develop the collaboration. Under terms
of the strategic collaboration, BNP Paribas will seek to improve the client
experience by providing improved pricing in the secondary market for US
Treasuries by the addition of GTS liquidity into its pricing framework. A
dedicated team from both firms will leverage a mutually developed technology
platform that seeks to provide BNP Paribas with access to greater liquidity,
thereby enabling the bank to offer improved execution quality for clients as
they trade directly with BNP Paribas.
Olivier Osty, Executive Head of Global Markets at BNP Paribas, said:
"The US is an important market for BNP Paribas, and we are fully committed to
expanding our capital markets franchise by focusing on our clients and their
demand for improved liquidity and better transparency. This innovative
collaboration with GTS illustrates how we work with firms that are experts in
financial technology to enhance our client offering across the Bank's value
chain. It is an important step in our ambition to become a leading digital
capital markets house in the financial services industry."
Ari Rubenstein, Co-Founder and Chief Executive Officer of GTS, said:
"This collaboration is a transformative moment for capital markets and reflects
the next phase in the evolution of relationships between banks and electronic
market makers, which provide investors with a low cost and more efficient
trading experience. GTS continues to focus on innovative methods of providing
more liquidity in more places by broadening access to our trading technology and
building platforms for the future."
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a
presence in 74 countries, with more than 190,000 employees, including more than
146,000 in Europe. The Group has key positions in its three main activities:
Domestic Markets and International Financial Services (whose retail-banking
networks and financial services are covered by Retail Banking & Services) and
Corporate & Institutional Banking, which serves two client franchises: corporate
clients and institutional investors. The Group helps all its clients
(individuals, community associations, entrepreneurs, SMEs, corporate and
institutional clients) to realize their projects through solutions spanning
financing, investment, savings and protection insurance. In Europe, the Group
has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP
Paribas Personal Finance is the leader in consumer lending. BNP Paribas is
rolling out its integrated retail-banking model in Mediterranean countries, in
Turkey, in Eastern Europe and a large network in the western part of the United
States. In its Corporate & Institutional Banking and International Financial
Services activities, BNP Paribas also enjoys top positions in Europe, a strong
presence in the Americas as well as a solid and fast-growing business in Asia-
Pacific. In the United States, BNP Paribas conducts securities business,
including in US Treasuries, through its affiliate, BNP Paribas Securities Corp.,
a FINRA member that is registered with the US Securities and Exchange Commission
as a broker-dealer.
About GTS
GTS is a global electronic market maker, powered by combining market expertise
with innovative, proprietary technology. As a quantitative trading firm
continually building for the future, GTS leverages the latest in artificial
intelligence systems and sophisticated pricing models to bring consistency,
efficiency, and transparency to today's financial markets. GTS accounts for over
3-5% of daily cash equities volume in the U.S. and trades over 10,000 different
instruments globally. GTS is the largest Designated Market Maker(DMM) on the
floor of the New York Stock Exchange, responsible for more than $12 trillion of
market capitalization. For more information, please visit: GTSX.com
Media Contacts:
Mylene Benmoussa, BNP Paribas, NY
212 841 2351
mylene.benmoussa(at)us.bnpparibas.com
Sarah Worsley, BNP Paribas, Paris
+33 (0)6 64 36 74 35
Sarah.worsley(at)bnpparibas.com
Brett Philbin, Edelman
212-704-8263
brett.philbin(at)edelman.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BNP Paribas Securities Corp. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 16.11.2017 - 06:00 Uhr
Sprache: Deutsch
News-ID 568400
Anzahl Zeichen: 6427
contact information:
Town:
New York
Kategorie:
Business News
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