The post-execution service complements Axes’s Global Execution Management System (GEMS) and automatically transmits all trade details to BNP Paribas, clients, brokers and their banks. Effectively, real-time status is ensured, providing accurate and timely settlement in all markets.
Peter Gaffney, president of Axes, said: There is a growing market in US cross-border equity trading, and this market continues to be overcharged and under-serviced. Axes is changing this and has selected BNP Paribas because of its unique ability as a major global banking firm to provide a one-stop shop for post-execution services. This complements our robust, single point of entry solution for reaching the world’s markets.
Robert Farley, managing director at BNP Paribas, said: We are delighted by this agreement, which underlines BNP Paribas’s expertise and ability to provide flexible, innovative solutions to meet the specific needs of each client.
