BNP Paribas Extends GTS Agreement into US Equities

BNP Paribas has extended its partnership with New York based market maker GTS for US Treasuries to include US equities. First agreed upon in November last year, BNP Paribas teamed up with GTS in a bid to provide its clients with better liquidity, tighter spreads and improved pricing in US Treasuries. The initial partnership saw BNP Paribas implement GTS’ trading and technology tools and added the market maker’s liquidity into its framework. Both firms also currently use a mutually-developed technology platform to provide the French bank with access to greater liquidity. Since the collaboration, BNP Paribas said that its secondary electronic market share with clients in US Treasuries has grown from 1.5% to 4%. BNP Paribas and GTS have now signed a memorandum of understanding to expand the deal into US equities, as the investment bank looks to grow its presence in the US market.