BNP Paribas Securities Corporation Joins LCH CDSClear to Expand US Offering
BNP Paribas Securities Corporation has become the first futures commission merchant (FCM) entity to join LCH CDSClear, as the company expands its services to the US market. In a significant move, BNP Paribas Securities Corporation has also cleared the first US buy-side trade on the LCH CDSClear platform.
This partnership comes after LCH CDSClear recently expanded its client clearing services to cater to US credit derivatives market participants. The aim is to provide these participants with increased access to capital reduction, margin offsets, and operational efficiencies through clearing.
“Onboarding FCM members and expanding our services to US clients means we are not only extending the benefits of clearing to more market participants, but we are also increasing the choices they have in CDS clearing. This is a significant step in our commitment to providing a truly global service with a single pool of liquidity to the cleared CDS market, and we look forward to continuing to support our clients globally.” says Frank Soussan, the global head of CDSClear and head of SA EquityClear and CommodityClear at LCH.
According to Gaspard Bonin, deputy global head of derivatives execution and clearing at BNP Paribas, the company is proud to be the first FCM member to go live with client clearing at LCH CDSClear for US market participants. This highlights BNP Paribas’ commitment to expanding its services and offering greater opportunities to its clients in the US.
With this collaboration, BNP Paribas Securities Corporation aims to provide US credit derivatives market participants with improved access to a wider range of clearing options. As the US market continues to grow and evolve, this move by BNP Paribas demonstrates its dedication to meeting the changing needs of its clients.
Overall, this partnership between BNP Paribas Securities Corporation and LCH CDSClear marks an important step in the expansion of clearing services, offering increased benefits and choices to market participants in the US credit derivatives market.
Analyst comment
Positive news.
As analyst: This partnership between BNP Paribas Securities Corporation and LCH CDSClear will enhance clearing services for US market participants. It will provide increased access to capital reduction, margin offsets, and operational efficiencies through clearing, offering greater benefits and choices to the market. The move demonstrates BNP Paribas’ commitment to expanding its services and meeting the changing needs of its clients in the US market. Expect a positive impact on the market as more market participants opt for these improved clearing options.
