Interbank prime of prime solutions provider CFH Clearing has selected BNP Paribas SA (EPA:BNP) as its new FX prime broker. BNP Paribas was selected following a rigorous process. CFH cited BNP’s strong credit rating, speed of onboarding and robust systems as factors in its decision.
LeapRate had earlier reported that CFH had switched FX prime brokers once before, in 2013, making the move to BofA Merrill Lynch, at the time replacing UBS. And now, the move to BNP Paribas.
Nick Mortimer, Head of Prime Brokerage and Clearing at CFH Clearing commented: “We are pleased to have secured an additional Prime Brokerage relationship. BNP Paribas has an excellent reputation worldwide as a leading FX Prime Brokerage house. We were impressed with their competitive terms, highly experienced team, strong technological capabilities and a proven track record in the FX industry.”
Mortimer continued:
Our relationship with BNP Paribas will help CFH Clearing to build on our existing pipeline of Prime of Prime clients, reinforcing our market leading position as we continue to grow our institutional client base.
CFH Clearing is an interbank prime of prime solutions provider for small and medium sized institutional clients and is one of the largest interbank STP venues in the market, with over 400 institutional clients in over 80 countries. CFH Clearing is authorized and regulated by the Financial Conduct Authority (FCA).