Caplin Systems, a provider of web technology for the capital markets, has announced that the corporate and investment banking branch of BNP Paribas (BNPP) is to use Caplin Trader to provide the internet distribution layer and web front-end for a new multi-product trading system.
Having chosen Caplin in May this year, BNPP plans to install Caplin Trader in its London office, and it is expected to go live in autumn 2007. Caplin Trader will be used to create a 'rich internet application', which will enable BNPP to offer online best price and core trading functionality, the firms say. The Ajax front-end will allow for an end user to create a trading screen just using 'drag and drop'.
"Our current system has supported us well through the first stage of developing online trading offerings, but now we are keen to take it to the next level and create a more sophisticated platform that lets us anticipate market demands and rapidly add new functionality. Caplin's proven web technology supports our ambitious technology plans by giving us advanced functionality combined with scalability," states Andrew Cohen, Global Head of eCommerce Marketing, BNPP.
Caplin Trader is a web trading toolkit using Ajax technology, which can be customised and extended. The system can be accessed from any standard web browser, with nothing to install and no changes to security settings or firewalls. Built on the Caplin Platform, its scalable architecture will enable BNPP to keep abreast of customer demand by just adding new servers as and when required.
"BNPP is one of the early major adopters of the new Caplin Trader product. BNPP's strategy underscores the fact that to attract and retain trading liquidity, banks must have state-of-the art single-dealer portals. I believe Caplin Trader will enable BNPP to secure a lion's share of this burgeoning market," comments Paul Caplin, founder and CEO, Caplin Systems.