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@us.bnpparibas.com
Sarah Worsley, BNP Paribas, Paris
+33 (0)6 64 36 74 35
Sarah.worsley@bnpparibas.com
Brett Philbin, Edelman
212-704-8263
brett.philbin@edelman.com
