Supporting the bank's global F&O trading operations
Fidessa group plc (LSE: FDSA) has today announced that BNP Paribas has selected its derivatives trading platform to underpin the bank's futures and options agency trading business. Fidessa’s platform will support the complex workflow requirements of BNP Paribas' listed derivatives trading operations across Europe, Asia-Pacific and North America.
Delivering sophisticated order management, global order handover capabilities and execution across all the major derivatives markets around the world, Fidessa's platform will also provide BNP Paribas with a suite of specialised derivatives algorithms, including benchmark algos and advanced synthetic order types to normalise trading across global markets. Fidessa's powerful order analytics capabilities will allow BNP Paribas' traders to monitor orders in real time and adjust algos on the fly to provide greater precision of execution for their clients. Fully-integrated risk functionality will manage BNP Paribas' client limits globally.
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."
Implemented as a fully-managed service leveraging an extensive network of hosting centres around the globe, Fidessa's platform provides BNP Paribas with global market data and high speed access to more than 60 futures and options markets.
Justin Llewellyn-Jones, Global Head of Derivatives at Fidessa, commented: "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."
Fidessa's derivatives trading platform supports more than 70 clients worldwide, scaling to support everything from single user execution through to fully-integrated global order management. It was recently voted Sell-side Trading System of the Year at the FOW Awards for Asia for the fourth year in succession and has received the same accolade at the FOW International Awards for the past three years.