BNP To Start Derivs Clearing Service

BNP Paribas may double its total revenue in the next five years by starting a derivatives clearing service for buy-side clients.

BNP Paribas may double its total revenue in the next five years by starting a derivatives clearing service for buy-side clients, Professional Pensions reports. BNP aims to offer services, including collateral management, derivatives clearing and insurance fund accounting, in the next five years.

The firm will undergo many major regulatory changes in 2011, including Solvency II requirements and European Market Infrastructure Regulations (EMIR). The EMIR changes will regulate over-the-counter derivatives to ensure they trade and clear on multilateral electronic platforms.

Click here for the story from Professional Pensions.