Ubitrade, a leading supplier of advanced systems solutions for trading, risk management and back office on capital markets to over 120 clients in 20 countries, today announces that BNP Paribas Group have extended Ubitrade Futures & Options back-office package to manage their global custody and stock-broking activities, reinforcing Ubitrade’s position as the Group’s main futures & options back-office system provider.
Ubitrade have provided BNP with a comprehensive management system for exchange traded Futures and Options on all major world markets for the last 9 years.
Following BNP’s merger with Paribas last year, BNP Paribas Securities Services, former Paribas’ Securities Services department, have decided to replace Norma, a Euro Finances Systems solution by Ubitrade Futures & Options to support their client activities. BNP Paribas Securities Services is one of the largest global custodians in the world and provides back-office services to major institutional clients. Ubitrade’s technology will assist BNP Paribas Securities Services in becoming BNP Paribas Group’s global futures & options clearer and one of the largest futures & options player in Europe.
Courcoux Bouvet, former Paribas Group’s stock broking arm have also replaced their Norma back-office system with Ubitrade Futures & Options. Courcoux Bouvet is a leading stock broker based in Paris and provides security brokerage services to institutional clients.
BNP Paribas Group have decided to optimize synergies by concentrating their futures & options activities in one single Paris location and by providing a unique futures & options back-office solution based on Ubitrade’s technology to different entities of the Group, namely, BNP Paribas Equities, BNP Paribas Securities Services, Courcoux Bouvet and BNP Paribas Arbitrage (the market making arm of the group).
Christian Milon, IT Manager at BNP Paribas Securities Services commented: "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. Ubitrade obviously fulfilled our requirements with a truly open solution that fits well in our global strategy towards highly efficient and modern systems. The quality of Ubitrade’s support which meets the highest standards was another key factor in our decision."
Didier Bouillard, Chief Executive Officer, Ubitrade, commented: "We have worked successfully with BNP over the last years and are delighted to have the opportunity to extend our relationship to other entities of BNP Paribas Group. This deal confirms Ubitrade’s leading position in global futures & options processing and demonstrates our ability to retain and satisfy long-dated clients with innovative and up-to-date solutions. There are more than 60 exchange-traded derivatives markets world-wide, each with its own technology requirements, regulations, and contract specifications, trading on these markets requires software products that are both comprehensive and flexible. We are hopeful that this deal will incentivise other global players in the world to review their current arrangements and demand a product that fully meets their needs. A strong back-office package with a world-wide coverage of international futures & options markets is necessary to successfully support the current trend of back-office concentration."