BNP Paribas has selected Fidessa’s derivatives trading platform to provide its clients market data and low-latency access to more than 60 futures, options, equities and FX markets around the world. Under the terms of the agreement, BNP Paribas is enhancing its futures and options agency trading business by tapping Fidessa’s workflow capabilities, order analytics and low-latency execution.
The agreement with BNP Paribas is the latest in a spate of deals since the trading software maker expanded into the derivatives market, culminating in partnerships with Citi, Nomura and Newedge, amongst others. Fidessa’s derivatives trading platform is now deployed by more than 70 clients worldwide, scaling to support everything from single user execution through to fully-integrated global order management.
The new accord between Fidessa and BNP Paribas will see the integration of Fidessa’s global order management and low-latency execution capabilities into the French bank’s exchange-traded derivatives platform – consequently, the augmented capabilities will be used to leverage the expansion of BNP Paribas business across Europe, Asia-Pacific and North America.
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The strategic expansion is important for BNP Paribas as it helps bolster its platform capabilities with a suite of specialised derivatives algorithms, including benchmark algos and advanced synthetic order types to normalise trading across global markets.
Gael Pottiez, Head of Product Development, Derivatives Execution and Clearing at BNP Paribas, commented: “We have more than three decades’ experience in clearing and a longstanding tradition of expertise in derivatives. We are pleased to confirm that we are fully committed to the business. We needed a platform that could support the complex and varied needs of our clients all over the world. It was also essential to partner with a firm that had proven capabilities in managing the technology infrastructure required to support a large-scale trading operation such as ours. The strength of Fidessa’s global infrastructure is well known in the industry and we expect the platform to bring immediate improvements for our clients and help us to reduce our costs and to build in important future-proofing.”
Justin Llewellyn-Jones, Global Head of Derivatives at Fidessa, added: “We are very pleased to be working with BNP Paribas to support their F&O business. 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. We have continued to invest substantially in the platform to ensure that it delivers the functionality that market participants demand and ensure that our customers can stay ahead in this highly competitive marketplace.”