Thursday 15 November 2018

Collaboration between banks and electronic Market Makers enters next phase.



BNP Paribas and GTS, a New York-based global electronic market maker, today announced the signing of a new Memorandum of Understanding (MOU).

The MOU signed at BNP Paribas' annual flagship Global Markets conference in London expands on an existing collaboration on US Treasuries to apply to US equities. BNP Paribas continues to be committed to growing its presence in the US market and providing its clients with enhanced and innovative liquidity solutions.

BNP Paribas and GTS announced their first strategic collaboration in November 2017, enabling BNP Paribas to leverage GTS' trading and technology capabilities to provide clients with deeper liquidity, tighter spreads and improved pricing in the US Treasuries secondary market. Since the collaboration, BNP Paribas' secondary electronic market share with clients in US Treasuries has grown from 1.5% to 4.0%.

Olivier Osty, Head of Global Markets, BNP Paribas said:
"We are delighted to be expanding our initial transformative collaboration with GTS into the US equities space through the MOU we have signed today. BNP Paribas is committed to delivering efficient, high quality and innovative liquidity solutions to our clients and this represents significant progress in the evolution of capital markets activities."

Ari Rubenstein, Co-Founder and Chief Executive Officer of GTS, said:
"The GTS initiative with BNP Paribas is a game-changer for clients.  We are putting the most sophisticated AI and machine learning to work with outstanding results.  The overall outcome is tighter spreads, lower costs and overall price improvement when accessing the equities and fixed income markets."


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