BNP Paribas Completes Integration with ESP's Electronic Algorithm Routing Network -EARN-; The First Algorithmic Strategy Portal Available with Complete Client Anonymity.NEW YORK -- BNP Paribas announced today that they have completed integration of their suite of algorithms with Electronic Specialist's (ESP (1) (Enhanced Service Provider) An organization that adds value to basic telephone service by offering such features as call-forwarding, call-detailing and protocol conversion. ), Electronic Algorithm Routing Network (EARN(TM)), which provides buy-side institutions with access to more than 30 strategies from many of the world's largest algorithmic trading providers, directly and anonymously, through one seamless gateway. The EARN(TM) portal, available through ESP's Global Direct Market Access Network, features such strategies as VWAP VWAP The volume-weighted average price. , TWAP TWAP Time-weighted average price TWAP Target-Weapon Association Program , TVOL TVOL Television On-Line (cable service) , Arrival Price, Implementation Shortfall, Smart Order Routing, Pairs Trading, and a variety of other algorithmic strategies that are unique to each participating broker in the global network. "The addition of BNP BNP B-type natriuretic peptide, brain natriuretic peptide Physiology A 32-residue peptide hormone produced predominantly in the ventricles, secreted in response to fluid overload–eg, CHF. See Atrial natriuretic peptide. Paribas' algorithmic suite to EARN(TM) brings a number of unique strategies that will add value to our institutional customers who are looking to achieve better Alpha, reduce slippage, and access liquidity.", states Scott Kurland, Senior Managing Director of ESP. BNP Paribas' suite of algorithms, named GEAR(TM) (Global Execution AlgoRithms), offers clients intelligent trading tools on a global basis. The BNP Paribas algorithms available through EARN(TM) include ALPHA, PRIO PRIO Priority PRIO Peace Research Institute Oslo , VWAP, VOL VOL Volume VOL Volunteer VOL Volcano VOL Volvo (stock symbol) VOL Verdingungsordnung für Leistungen (German) VOL Volatile Organic Liquid Vol Volscan (linguistics) , and PAIRS. Peter Mortimer, VP of Equity Derivatives for BNP Paribas states "BNP Paribas, through its subsidiary, Cooper Neff, has been actively program trading for 13 years. With such a history of quantitative modeling and algorithmic trading, we are confident we can offer clients superior trading tools." He adds, "We believe that our integration with ESP will provide us with a strong distribution network to clients who demand anonymity." EARN(TM) allows institutions to ensure their anonymity when sending large order blocks or lists to multiple strategy servers. The portal can minimize market impact by allowing clients to spread orders across a number of providers and algorithms. EARN(TM) is currently available through a number of application trading providers who are integrated with ESP's network. "One of the unique benefits of the EARN portal is that ESP has built a standardized FIX translator that normalizes all of the unique custom strategy tags, which is conducive to a consistent user interface that supports various strategy sets in a like manner.," said Bryce Byers, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Neovest, Inc. Scott Kurland added, "By offering a wide variety of algorithms through a single gateway powering a number of trading applications, we facilitate brokers such as BNP Paribas' ability to constantly innovate, improve, and rapidly distribute their algorithms, which ultimately benefits our clients." ESP also plans to use BNP Paribas as one of its direct market access providers to reach a number of global markets. About BNP Paribas BNP Paribas (Aa2 / AA / AA), with over USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 784 billion in assets and 87,700 staff in 85 countries, including 10,000 in the US, is the largest bank in the euro zone in terms of net income and market capitalisation. In the U.S., as a registered NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). broker-dealer and a member of SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. , BNP Paribas Securities Corp. underwrites, trades and markets a vast array of global and domestic fixed-income and equity products. BNP Paribas is among the top Equities & Derivatives dealers in the world. In recognition of its leadership, BNP Paribas was awarded "Equity Derivatives House of the Year" by the Risk Awards magazine in 2004. About ESP Electronic Specialist, LLC is a New York-based technology firm and registered broker-dealer and NASD member. ESP provides high-speed direct market access execution capabilities in US and global equities, options, and futures to buy-side clients. ESP's client base includes hedge funds, pension plans, investment advisors, and traditional asset managers. There are over 17 trading application providers integrated with ESP's global direct market access network. For more information, please visit www.fastesp.com. Note to Editors: Please contact Keating & Co for further information on EARN(TM) and ESP. |
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