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BNP Paribas opts in for systematic trader recognition under new securities rules

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BNP Paribas opts in for systematic trader recognition under new securities rules

France's BNP Paribas SA said it will voluntarily become recognized as a so-called systematic internaliser, or a firm that systematically trades on its own account when executing client orders, under new MiFID II securities rules.

The bank said it would opt in as a systematic internaliser ahead of the Sept. 1, 2018, deadline. As such, it will need to comply with certain obligations under MiFID II.

BNP Paribas and units BNP Paribas Arbitrage SNC and BNP Paribas Fortis SA/NV will opt in for all traded on trading venues non-equity instruments, including equity derivatives, and also for exchange-traded funds. BNP Paribas Securities Services SCA will opt in for FX derivatives in-scope instruments.

MiFID II rules aim to provide more protection for investors and to level the playing field between financial services firms through better transparency in the pricing of investment and trading services.