BNP Live in CurveGlobal STIR Market
Posted by Colin Lambert. Last updated: April 19, 2021
Traders at BNP Paribas have gone live with LSEG’s CurveGlobal short-term interest rate (STIR) platform. The bank already offered clients execution and clearing services, the latter through LSEG’s LCH.
According to Gaspard Bonin, deputy global head of derivatives execution & clearing at BNP Paribas, the bank considers CurveGlobal an integral part of the Libor transition to Sonia and “essential for any institution seriously involved in sterling rates”. Libor is due to be discontinued at the end of 2021.
Alexandre Benech, global head of flow trading at BNP Paribas, says, “It is an important milestone in the improvement of our electronic setup, notably as BNP Paribas has the ambition to become one of the top market-makers in GBP Swaps in 2021.”
Andy Ross, CEO, CurveGlobal adds, “Q1 2021 was our best quarter ever, and we expect these upward trends to continue. Our ‘fee free’ trading period is in place until the end of September.”