The Clearsuite® range of services includes the Hybrid Clearing Model which allows both buy-side and sell-side institutions to access Pipeline Financial by offering the ability to operate both with, or without, a CCP. Pipeline Financial enables access to liquidity across 14 European markets covering over 5,000 stocks including all the main European indices as well as a range of ETFs.
Marcus Hooper, Executive Director for Pipeline Financial Group Limited said “Following an extensive and detailed selection process we are delighted to have chosen BNP Paribas Securities Services as our post-trade partner. The ‘Clearsuite® solution allows us to launch in Europe on a stable and proven platform which is supported by a partner who matches our ambition to deliver market leading innovation to our clients.”
Commenting on the partnership, Jason Nabi, head of Financial Intermediaries Solutions UK, BNP Paribas Securities Services said: “Since the launch of our single-tier Hybrid Clearing Model for MTFs last July, we are pleased to have partnered with Pipeline Financial to provide their back-office outsourcing and settlement. As one of the most successful alternative trading systems in the US, Pipeline forms an important part of our market infrastructure strategy. We are pleased to be offering them this unique and market leading solution for their back-office requirements.”
About BNP Paribas Securities Services
BNP Paribas Securities Services is a wholly-owned subsidiary of the BNP Paribas Group, delivering independent flexibility and commitment, backed by the strength of a leading universal bank.
Operating across the investment cycle, we provide post-trade administration solutions to buy-side and sell-side financial institutions and issuers. The Bank has a local presence across 26 countries and global coverage of over 100 markets, offering a one-stop shop for all asset classes, both onshore and offshore, across the globe.
With EUR 3.34 trillion (USD 4.65 trillion) assets under custody, EUR 565 billion (USD 786 billion) assets under administration and close to 6,000 funds administered*, BNP Paribas Securities Services is the Europe's leading securities services provider.
*As at 31 December 2008
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 6 strongest banks in the world according to Standard & Poor's. The group is present in 85 countries, with more than 173,000 employees, including 132,700 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank's two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
Pipeline partners with block traders to optimize the execution of giant orders while denying statistical arbitrageurs the information they'd need to take advantage of institutional orders. Pipeline is the only block execution system that combines the high probability of block liquidity with the unmatched performance of predictive switching between best of breed algorithms. It was built from the ground up to deliver impact-free block liquidity in the face of increasingly sophisticated predators. [Elkins McSherry point] Pipeline is headquartered in New York with offices in Boston, Chicago, London and San Francisco.
For more information, visit www.pipelinetrading.com