BNP Paribas Joins Forex Prime Brokerage Platform

Jan 6 2010 | 12:13pm ET

With its eyes on a bigger slice of the currencies-trading pie, BNP Paribas has joined a trading platform targeted at hedge funds.

The French bank has become a prime bank on the EBS trading system, owned by brokerage ICAP.

“Joining EBS as a prime bank is an important part of BNP Paribas’ strategy to build out our prime brokerage offering,” Nathaniel Litwak, head of foreign exchange prime brokerage marketing at BNP, said. “Our ambition is to become a top five FX house globally and our prime brokerage business is a vital part of realising that ambition. Our current strength and potential for future growth in FX prime brokerage stems from factors including our strong balance sheet and a credit rating that makes us a particularly desirable counterparty.”

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