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BNP Paribas Securities Services offers clearing and settlement with Turquoise

Posted: 20 August 2008

BNP Paribas Securities Services announced the successful completion of end-to-end testing with Turquoise, the Multilateral Trading Facility (MTF). BNP Paribas can now offer clients full post-trade support through its status as a General Clearing Member (GCM) on European Central Counterparty Ltd (EuroCCP) - Turquoise's Central Counterparty (CCP).

BNP Paribas will provide operational support in all the markets which will be covered by Turquoise. This is not new territory for BNP Paribas, having successfully enabled 14 clients to go live on Chi-X Europe Ltd (Chi-X) by providing post-trade support and acting as their GCM on European Multilateral Clearing Facility NV (EMCF) - Chi-X's CCP.

Through a single connection, BNP Paribas' broker dealer client base can use their GCM services on all the main European exchanges as well as the new MTFs. BNP Paribas' clients also benefit from the same unique operational model for all existing and future CCPs. In addition, to protect their clients from the increase in margin calls arising from the additional MTFs, BNP Paribas has developed centralised margin call and collateral optimisation solutions.

These services form part of BNP Paribas Securities Services' ClearSuiteSM integrated clearing solution which was launched in September 2007. ClearSuiteSM provides innovative execution and post-trade solutions to BNP Paribas' broker dealer client base. This is another significant step in BNP Paribas' strategy to become the ‘go-to' provider of post trade support for Europe's MTFs.

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