This
strategic collaboration marks a new era for banks and electronic market makers.
BNP Paribas
and GTS, a New York-based global electronic market maker, have 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.
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.
Olivier Osty, Executive Head of Global Markets at BNP
Paribas
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.
Ari Rubenstein, Co-Founder and Chief Executive Officer of
GTS