BNP Paribas has plans to develop a platform to serve the clients it has gained as part of its recent acquisition of Bankhaus Carl F. Plump. The acquisition, announced last month, includes the third-party clearing and settlement business of the bank serving the local broker community in Germany.

BNP will also acquire the technology platform developed by Bankhaus to provide the service. Gerald Noltsch, head of BNP Paribas Securities Services in Germany, said the bank will take Bankhaus' existing platform and combine it with BNP's general ledger system to create a combined platform. It will remain separate because the local brokers, which do agency and proprietary trading, have different requirements for their businesses regarding accounting, contractual settlement and risk management, compared to the bank's existing clientele of global dealers and custodians, he said.

"We will integrate it as much as possible and set it up to allow other services, like derivatives clearing, international settlement and execution services in foreign markets," Noltsch added, noting these services are currently available to BNPs existing clients. "Basically, we are bringing our toolbox to this client base and making it even more attractive for them and still maintaining the specific system set up for this client." Noltsch said the bank is expanding its client base in anticipation of growth in the segment as consolidation in the markets continues.