BNP Paribas extends derivatives back-end system
The new software is now in operation, and has been adopted by four of the group’s business units in total, all of which deal with derivatives. Both BNP Paribas Securities Services and the former Paribas Group’s stock broking entity Courcoux Bouvet are to replace Norma, a Euro Finances Systems’ solution. BNP Paribas Equities and BNP Paribas Arbitrage – the market-making arm of the group – will also adopt the software technology. All the back-office systems will be based in Paris.
Christian Milon, IT manager at BNP Paribas Securities Services, said: “We have been restructuring our operations with the goal of having a central futures & options back-office organisation located in Paris, supported by leading-edge technology.”
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