The securities services unit of BNP Paribas now offers a service for its fund administration and investment operations outsourcing clients — a common trade management service which automates trade management for its clients and counterparties.
BNP Paribas implemented the Tradeflow middleware system from CheckFree Corporation with Omgeo Central Trade Manager (Omgeo CTM) in an effort to increase the automation levels and efficiency of processing its clients’ trades, from execution right through to settlement. Brokers will also be able to automate more of the trade process including matching at block level and automating allocation communication.
“We are delighted with BNP Paribas’ TradeFlow/Omgeo CTM roll-out, which has immediately improved trade matching rates, whilst reducing Aberdeen’s Front Office trade allocation requirements,” said Atholl Forbes, BNP Paribas client and senior relationship manager at Aberdeen Asset Management.
Clients’ ability to link to Omgeo CTM allows BNP Paribas to manage trades at both block and allocation level, relieving clients’ front office teams of the need to communicate allocations to their counterparties. It speeds the transaction matching process and the platform interfaces to multiple industry infrastructures including Omgeo CTM and SWIFT, automating the entire process.
The system also provides a single communications channel covering securities transactions, cash deposits and foreign exchange deals, including those settling through CLS.