BNP Paribas announced their investment as founding shareholders in the REDI Holdings LLC (REDI). REDI is the technology provider for the REDIPlus Execution Management System (EMS). The investment of BNP Paribas will place the company as one of six founding investors and will establish REDI Holdings LLC as an independent financial technology company.
The investment was established when multi-broker electronic execution became more favorable to institutional investors, as well as gains in market share. The shareholder investment of BNP Paribas will significantly upgrade the EMS offerings to its US investors. This will grant access to cash and derivative execution services for US and international markets through the EMS platform.
Chris Innes, Head of Equities for BNP Paribas Global Equities & Commodity Derivatives (GECD) in the Americas, will join the board of REDI. He said, "We are delighted to have completed this investment, which demonstrates BNP Paribas' commitment to ensure our clients' connectivity in the EMS space in the long term and our desire to focus on where clients are headed."
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