NYFIX, an electronic trading solutions provider, and BNP Paribas Securities Services (BNP), a securities services provider to the financial services industry, announced on Monday a strategic agreement to offer pan-European post-trade services to NYFIX Euro Millennium users. Euro Millennium is a neutral dark pool of liquidity providing anonymous matching for equity trading in European markets. It is scheduled to be launched by NYFIX in Q1 2008.
The firms say this new solution adapts to MiFID requirements and to the specifics of the emerging multilateral trading facility (MTF) environment. BNP will provide Euro Millennium with an integrated post-trade service using its own trusted local agents, says the firm.
"We are pleased to announce this important partnership with BNP," says Paul Kelly, head of sales and client operations and director of NYFIX International. "The firm's cross-border experience in post-trade services across Europe made it a natural choice for Euro Millennium from day one," he adds.
"We are very happy to be NYFIX's partner for post-trade services and this agreement demonstrates our commitment to developing solutions for a changing market," says Jason Nabi, head of financial intermediaries UK, BNP. "In the last 2 years, BNP has seen a great deal of development and growth in the UK and moving forward we see the MTF space as an important new client segment for the bank," he continues.