BNP Paribas automates with BondLend
23 January 2011 New York
Image: Shutterstock
BondLend, has announced that BNP Paribas is the first broker dealer to use Straight-Through Processing for their Fixed Income Mark-to-Market service. Straight-Through Processing facilitates reconciliation actions on BondLend’s comparison services to be automatically updated in BNP Paribas’ proprietary system.
Steven B. Misischia, Managing Director of Fixed Income Trading Operations at BNP Paribas stated, “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. 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.”
He continued, “BondLend’s Mark-to-Market Comparison has eliminated hours of phone calls, email correspondence and money variance reconciliations, allowing BNP Paribas to reallocate internal resources. We look forward to working with the BondLend team to further this initiative and to continue to be innovative in creating efficiencies and Straight-Through Processing within the industry.”
Brian. P. Lamb, CEO of BondLend, commented, “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.”
Many lenders within the Fixed Income community, including BNY Mellon and Credit Suisse, are also benefiting from using BondLend’s Mark-to-Market comparison service daily.
Steven B. Misischia, Managing Director of Fixed Income Trading Operations at BNP Paribas stated, “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. 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.”
He continued, “BondLend’s Mark-to-Market Comparison has eliminated hours of phone calls, email correspondence and money variance reconciliations, allowing BNP Paribas to reallocate internal resources. We look forward to working with the BondLend team to further this initiative and to continue to be innovative in creating efficiencies and Straight-Through Processing within the industry.”
Brian. P. Lamb, CEO of BondLend, commented, “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.”
Many lenders within the Fixed Income community, including BNY Mellon and Credit Suisse, are also benefiting from using BondLend’s Mark-to-Market comparison service daily.
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