Sernova Financial (Sernova), an innovative provider of post-trade derivative solutions, announced that it has partnered with Banco Bilbao Vizcaya Argentaria S.A. (BBVA), the multinational Spanish banking group. Sernova will provide technology and operational house and client post-trade derivative solutions to BBVA across multiple clearing houses and brokers.
In a continuously evolving landscape with changes in regulation, cleared products and liquidity pools, Sernova’s solutions provide market participants the ability to effectively and efficiently respond to these market changes. By leveraging Sernova’s services, BBVA will benefit from increased agility when connecting to clearing houses and also enhance future scalability.
Ian Downes (MD-CIB Post-Trade Business Development, BBVA), said: “BBVA is focussed on providing more and better services to our clients and so we have selected Sernova to ensure that we can more effectively manage a multi-CCP and broker world. This will result in a more automated digital product offering, better pricing and greater flexibility for our customers. We believe that this new partnership provides an excellent opportunity to enhance our client focus.”
Venkatesh Ramasamy (CEO, Sernova) said: “Sernova are excited to work with BBVA and the opportunities that come with such a partnership. Market participants using Sernova as a centralised technology and operations derivative clearing solution benefit from a variable cost base and implementation simplicity to reduce the complexities surrounding compliance with global regulation.”
