Nyfix, a provider of electronic trading solutions and BNP Paribas Securities Services, has announced a strategic agreement under which Nyfix International, a subsidiary of Nyfix, and BNP Paribas Securities Services will offer pan-European post trade services for Nyfix Euro Millennium.
Euro Millennium is a neutral dark pool of liquidity providing rapid, anonymous matching for equity trading in European markets that is scheduled to be launched by Nyfix in Q1 2008.
This new solution adapts to the nuances of MiFID requirements and to the specifics of the emerging multilateral trading facility (MTF) environment. BNP Paribas Securities Services will provide Euro Millennium with an integrated post trade service, using their own network and trusted local agents.
Paul Kelly, head of sales and client operations and director of Nyfix International, said: We are pleased to announce this important partnership with BNP Paribas Securities Services. Their cross border experience in post trade services across Europe made them a natural choice for Euro Millennium from day one.
Jason Nabi, head of financial intermediaries UK at BNP Paribas
Securities Services, added: We are very happy to be Nyfix’s partner for
post-trade services and this agreement demonstrates our commitment to
developing innovative solutions for a changing market. In the last two years, BNP Paribas has seen a great deal of development and growth in the UK and moving forward we see the MTF space as an important new client segment for the bank.