Trading technology provider Vela announced today that it has connected one of its platforms to BNP Paribas’ FIX order gateway.
The French bank’s clients will now have access to the technology company’s Metro trading platform.
“We are delighted that Vela has completed the certification process by connecting Metro to our FIX order gateway,” said John Nunziata, Head of Electronic Execution at BNP Paribas.
“We have mutual clients already leveraging this connectivity, and we are looking forward to onboarding new clients to a sophisticated platform.”
Though Vela builds products for most asset classes, Metro is geared towards options trading.
Users of the software can access most major options markets in Europe and North America. The platform also has pricing, execution and risk management tools built into it.
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Good for the buy-side, good for the sell-side
Vela claims that the system has proven useful to buy and sell-side firms as it has automated, algorithmic and click trading strategies.
“We are excited to complete this BNP Paribas certification to enable end-to-end trade processing,” said company CEO Jen Nayar. “This integration provides our global clients with the convenience of directing trade flow through BNP Paribas’ gateway.”
“In addition to our ongoing innovation in technology and staying current with changing market demands, we work closely with major industry participants like BNP Paribas to simplify electronic trading for clients.”
The deal with BNP Paribas is the second major deal that Vela has pulled off in the past month.
At the beginning of February, the technology company announced that it had partnered with cryptocurrency market data provider CoinRoutes.
That deal saw Vela provide the cryptocurrency firm with smart order solutions.