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%.