BNP inks back-office clearing deal with FIS

Vendors jostle to offer collateral management services amid negative rates and shrinking returns for FCMs

bnp-paribas

BNP Paribas’s clearing business has signed a 10-year deal with vendor FIS to bolster its post-trade infrastructure,  as vendor competition heats up in the market for outsourced margin management services.

The deal allows the futures commission merchant to use FIS’s Cleared Derivatives Suite of software, which includes a range of middle- and back-office software for both OTC and exchange-traded derivatives. These, according to the dealer, will now form the “backbone” of its clearing

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