BNP Paribas will be the first broker dealer to use straight-through processing for BondLends fixed income Mark-to-Market service, which will facilitate reconciliation actions on BondLend’s comparison services to be automatically updated in BNP Paribas’ proprietary system.
“Using BondLend’s Mark-to-Market Comparison service has increased our operational efficiency and will exponentially continue to do so as more lenders and dealers enroll, says Steven B. Misischia, managing director of fixed income trading operations at BNP Paribas. We are self-assured that Mark-to-Market Comparison will impart the same automated straight-through process for Fed-eligible securities as has existed in the equities and corporate bond markets for at least 20 years.
Brian. P. Lamb, CEO of BondLend, adds, “We are very excited to see the continued increased usage of our Fixed Income comparison services which provides extensive operational efficiencies and automation to our clients. We’ve received an overwhelmingly positive response from the Fixed Income community and look forward to continuing to create innovative technology solutions for them.”