BNP Paribas CIB unveils global prime brokerage platform
27 July 2011 New York
Image: Shutterstock
BNP Paribas Corporate and Investment Banking has unveiled its global prime brokerage platform, which provides clients with a global approach to financing, execution and servicing.
The platform will enable the bank to clear and custody assets in nearly every market as well as offer margin financing in 31 markets and in 13 currencies.
The new development by the Global Equities and Commodities Derivatives team, brings products to a broader range of clients. BNP Paribas Prime Brokerage clients, from multi-strategy funds to emerging mid-size specialists, can now trade in non-US securities, receive non-US reporting and gain access to financing in non-US jurisdictions.
"We wanted to come to market with a multifaceted platform that is global in nature and seamless in execution so we've designed it from the bottom up," said Sam Hocking, global head of prime brokerage sales. "In looking at the bigger picture, we have created a platform that will anticipate the global needs of our clients. The on-boarding process is efficient and straightforward and the overall platform is simpler for our clients to use."
BNP Paribas' Prime Brokerage platform encompasses five main activities: Financing Solutions, Technology and Reporting, Global Securities Lending, Global Execution Services and Capital Introduction. The platform also features global securities lending, a global order management system, real-time Profit & Loss and 24x5 trading capabilities.
BNP Paribas has 350 employees dedicated to the prime brokerage platform. The Bank has plans to grow its prime brokerage staff in the US, Asia and Europe over the next year.
"We are growing our business and utilising the global resources of the bank and plan to introduce additional capabilities throughout the year," said Jeff Lowe, head of equities product development.
"By building our systems from scratch, we are able to offer a sophisticated platform which employs the latest technology and is distinctively different from what is presently offered in the market."
The platform will enable the bank to clear and custody assets in nearly every market as well as offer margin financing in 31 markets and in 13 currencies.
The new development by the Global Equities and Commodities Derivatives team, brings products to a broader range of clients. BNP Paribas Prime Brokerage clients, from multi-strategy funds to emerging mid-size specialists, can now trade in non-US securities, receive non-US reporting and gain access to financing in non-US jurisdictions.
"We wanted to come to market with a multifaceted platform that is global in nature and seamless in execution so we've designed it from the bottom up," said Sam Hocking, global head of prime brokerage sales. "In looking at the bigger picture, we have created a platform that will anticipate the global needs of our clients. The on-boarding process is efficient and straightforward and the overall platform is simpler for our clients to use."
BNP Paribas' Prime Brokerage platform encompasses five main activities: Financing Solutions, Technology and Reporting, Global Securities Lending, Global Execution Services and Capital Introduction. The platform also features global securities lending, a global order management system, real-time Profit & Loss and 24x5 trading capabilities.
BNP Paribas has 350 employees dedicated to the prime brokerage platform. The Bank has plans to grow its prime brokerage staff in the US, Asia and Europe over the next year.
"We are growing our business and utilising the global resources of the bank and plan to introduce additional capabilities throughout the year," said Jeff Lowe, head of equities product development.
"By building our systems from scratch, we are able to offer a sophisticated platform which employs the latest technology and is distinctively different from what is presently offered in the market."
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