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BNP Paribas Launches Cortex ATS in the US

·5 min read

Strengthens and widens range of equity and derivatives services BNP Paribas can offer to institutional investors and corporates globally

Key Milestone in BNP Paribas’ Integration of Deutsche Bank’s Global Prime Finance and Electronic Equities Platform

NEW YORK, October 14, 2021--(BUSINESS WIRE)--BNP Paribas today announced the launch of its Cortex ATS platform in the US, enabling the bank to offer a full range of solutions and services to its quantitative and fundamental investor clients globally. The Cortex ATS platform will provide BNP Paribas clients access to a non-displayed liquidity venue accessible from all execution channels. The ATS platform builds on the bank’s existing Cortex platform across equities, FX, rates, and listed derivatives. Recent Cortex Equities platform enhancements include new data center and exchange connectivity as well as new quantitative research driven upgrades to smart order routing logic and algorithmic trading strategies.

As a world-class equity execution platform, Cortex Equities forms the core of a broader equity execution services offering for high-touch, portfolio, electronic trading and exchange-traded fund (ETF) execution. BNP Paribas’ highly experienced coverage team will utilize the state-of-the-art technology and advanced analytics to deliver best execution to clients. In addition, the integrated execution services model will provide a unique, client-focused execution experience and consistency across all channels.

"Cortex Equities will now provide our institutional equity clients a best-in-class execution technology and service offering tailored to meet the needs of their individual portfolio implementation demands for a broad array of investment strategies," said Brian Fagen, Head of Execution Services for the Americas at BNP Paribas. "As a result, our new and innovative equities execution offering will help strengthen our partnerships with global clients."

Cortex Equities is a critical part of the bank’s efforts to strengthen its holistic equities offering. BNP Paribas has completed the acquisition of 100% of Exane, raising its stake from the 50% previously held during a successful 17-year partnership. Leveraging Exane’s expertise in cash equities (execution and research) and derivatives, the transaction will further strengthen and widen the range of equity and derivatives services BNP Paribas can offer to institutional investors and corporates globally. This, together with the migration of Deutsche Bank’s Global Prime Finance and Electronic Equities business to BNP Paribas, will position the bank as a leading provider in Global Equities.

"This is an important step in our ambition to be a top global prime broker and to strengthen our equities complex with a holistic offering in this key asset class," said Ashley Wilson, Global Head of Prime Services at BNP Paribas. "Ultimately, the strength of our equities capabilities will allow us to continue to be a true partner to our clients across all regions."

In addition, the Cortex ATS launch is a key milestone in the migration of Deutsche Bank’s Global Prime Finance and Electronic Equities platform to BNP Paribas. In 2019, BNP Paribas and Deutsche Bank signed and announced an agreement to transfer technology and key staff from Deutsche Bank’s Global Prime Finance and Electronic Equities business to BNP Paribas. The global migration is well underway and has entered its final phase. It is expected to complete by end of 2021.

About BNP Paribas

BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. The Group has key positions in its three main fields of activity: Retail Banking for the Group’s retail-banking networks and several specialized businesses including BNP Paribas Personal Finance and Arval ; Investment & Protection Services for savings, investment and protection solutions ; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated retail-banking model across several Mediterranean countries, Turkey, Eastern Europe as well as via a large network in the western part of the United States. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.

About BNP Paribas in the USA

BNP Paribas has built a strong and diversified presence in the United States to support its client base. The bank employs close to 14,000 people and has had a presence in the USA since the late 1800s. Bank of the West serves over 2 million individuals and small & businesses through a network of around 600 branches and business centers. Large corporate and institutional clients are serviced by BNP Paribas’ Corporate & Institutional Banking franchise that has a presence in the main US cities, in addition to a global reach through a network of offices in EMEA and APAC. The bank also offers asset management services through BNP Paribas Asset Management as well as Real Estate and Fleet Services through partnerships.

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Guy Taylor
+1 (332) 323-3704

Robert Madden
+1 (917) 287-8501

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