GL TRADE, global provider of front-to-back office software solutions for international financial institutions, previously processed part of the BNP Paribas Group’s transactions using its listed derivatives back-office solution, UBIX. GL TRADE now deploys UBIX throughout the entire BNP Paribas platform.
UBIX was chosen as the global back-office platform for the purpose of managing BNP Paribas Arbitrage’s organised derivatives business on the commodities and energy markets. BNP Paribas Arbitrage’s UBIX technical platform, located in Paris, will house the derivatives businesses of both BNP Paribas Commodities Futures Ltd (London) and BNP Paribas Commodities Inc (New York). BNP Paribas is interested in focusing on the commodities markets (e.g. LME, NYBOT, LIFFE Commodities, etc.) and the energy markets (e.g. EEX, ENDEX, ICE, NORDPOOL, NYMEX, POWERNEXT, etc.), and therefore chose to adopt the UBIX solution.
"We are thrilled that a banking group such as BNP Paribas has selected our back-office management solution," stated Laurent Jacquemin, global head of Post-Trade Derivatives for GL TRADE, "UBIX will allow each entity to be independent in terms of management, while streamlining technical implementation costs."
GL TRADE is a major stakeholder in the field of futures and options, as demonstrated by its revenue, markets coverage, R&D resources and its number of clients worldwide.