BNP Paribas Signs Agreement with FIS on Derivatives Clearing

French investment bank BNP Paribas has partnered with FIS to transition its derivatives post-trade operations onto the firm’s cleared derivatives technology platform. Through a 10-year agreement, markets technology provider FIS will manage all of the bank’s post-trade operations including processing and reconciliation, according to a story in MarketsMedia news. The post-trade operations will be transitioned to the Cleared Derivatives Suite platform by FIS, which centralizes all post-trade workflows into one unified global system across more than 90 exchanges. BNP Paribas said consolidating its derivatives clearing onto platform would help it to achieve operational efficiencies and reduced levels of risk. The move follows the market’s automated front-to-back straight-through-processing approach to post-trade derivatives across clearing, reconciliations, position management, margin calculations, and cash and collateral management.