BNP Paribas today announces that it will voluntarily opt in to become a Systematic Internaliser for MiFID II in-scope instruments that are traded or admitted to trading on trading venues (TOTV), as of 3 January 2018.
Olivier Osty, executive head of Global Markets, BNP Paribas, said: “We are pleased to opt in as Systematic Internaliser ahead of the scheduled deadline of 1 September next year.”
“As a leading European bank, BNP Paribas wants to be at the forefront of MiFID II implementation, and we will do our best to help our clients comply with their new obligations. This decision effectively shifts the responsibility for real-time post-trade transparency reporting onto us, which facilitates our institutional clients’ journey and enables them to focus on their core business.”
BNP Paribas SA, BNP Paribas Arbitrage SNC and BNP Paribas Fortis SA/NV will opt in for all TOTV non-equity instruments, including equity derivatives, and also for equity-like ETFs instruments.
BNP Paribas Securities Services SCA, the bank’s post-trade and custody division will opt in for FX derivatives in-scope instruments.
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 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, corporates and institutional clients) to realise 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 European 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.
Additional information on SI
In the context of MIFID II, which will become effective from January 3rd 2018, investment firms have the possibility to opt-in as Systematic Internaliser (SI) from January 3rd 2018, triggering additional obligations for investment firms on their trading activities and providing more transparency on quotes and executed prices to clients and market participants.