BNPP targets US equities in new tie-up with GTS
French bank says derivatives business will benefit from better prices and liquidity in underlying stocks
BNP Paribas is aiming to boost its share of trading in US stocks – and support its derivatives business – by partnering with GTS, the largest market-maker on the New York Stock Exchange.
The partnership is modelled on an existing tie-up between the two firms in the US Treasury market, which has seen the French bank’s market share leap from 1.5% to 4% in less than a year.
In the equities deal, GTS will stream prices in stocks and exchange-traded funds to BNP Paribas, which can use those prices
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