NEW YORK, NY--(Marketwire - March 17, 2011) - BNP Paribas Corporate and Investment Banking, through its US registered broker dealer, BNP Paribas Securities Corp., today announced that it has joined CME Group to clear over-the-counter (OTC) interest rate derivatives as a futures commission merchant.
CME Group is a leading derivatives exchange and CME Clearing is a leading clearing house for interest rate derivatives. As a clearing member for CME Group's cleared interest rate swaps solution, BNP Paribas Securities Corp. will be better positioned to fulfill regulatory mandates that require interest rate derivatives between financial institutions to be cleared through a clearinghouse. The clearing solution will also enable BNP Paribas' global clients to become compliant with the mandatory client clearing requirements of the Dodd-Frank Act.
"BNP Paribas Securities Corp. joined CME Group for the clearing of OTC interest rate derivatives as it will enable us to help facilitate client clearing needs in the new regulatory environment," said Bob Hawley, head of Fixed Income, Americas.
BNP Paribas Corporate and Investment Banking
BNP Paribas Corporate and Investment Banking employs around 20,000 people in over 50 countries and services 14,000 corporate and institutional clients worldwide.
BNP Paribas CIB excels in:
Derivatives - where it is one of the leading global players in rates, credit, forex, commodity and equity derivatives
Capital markets - where it is one of the top European houses in both ECM and DCM (bond, securitization, convertibles and equity issuance)
Structured finance - where it is amongst the leaders in acquisition, export, project, energy and commodity finance globally
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the six strongest banks in the world*. The Group has a presence in more than 80 countries and more than 200,000 employees, including more than 160,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across the Europe-Mediterranean zone and boasts a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia.
* Rated AA by Standard & Poor's i.e. 3rd rating level on a scale of 22.
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