NEW YORK, NY -- (Marketwired) -- 07/17/13 -- In the news release "BNP Paribas Invests as Founding Shareholder in REDI Holdings LLC," issued earlier today by BNP Paribas, we are advised by the company that the date in paragraph two should read "July 16" rather than "July 12" as originally issued. Complete corrected text follows.
BNP Paribas Invests as Founding Shareholder in REDI Holdings LLC
NEW YORK, NY -- July 17, 2013 -- BNP Paribas today announces its investment as a founding shareholder in REDI Holdings LLC (REDI), the technology provider of the REDIPlus® Execution Management System (EMS).
The investment, which was completed on July 16, establishes REDI as an independent financial technology company, and places BNP Paribas as one of six founding investors.
The transaction comes at a time when multi-broker electronic execution is becoming more favored by institutional investors, and is gaining market share.
Ownership by the consortium, of which BNP Paribas is part, is set to enhance REDI's competitive position by providing a broad range of benefits to the marketplace through an expanded broker network, broad cross-asset capabilities, expansive global coverage and industry-leading customer service.
The investment as a founding shareholder will enable BNP Paribas to significantly upgrade EMS offerings to US investors, granting access to cash and listed derivative execution services in the US and international markets through a leading global 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."
About BNP Paribas
BNP Paribas (www.bnpparibas.com) has a presence in nearly 80 countries with 190,000 employees, including 145,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia-Pacific.
Brokerage services discussed above are offered through BNP Paribas Securities Corp., an affiliate of BNP Paribas, a U.S. registered broker-dealer and a member of SIPC, FINRA, the NYSE and other principal exchanges, whose primary office is at 787 Seventh Avenue, New York, NY 10019.
About REDI Holdings
REDI Holdings operates the REDIPlus® Execution Management System, a leading global technology platform offered across the Americas, EMEA and Asia-Pacific. REDIPlus supports a wide breadth of asset classes, markets and trading strategies offered through its broker network, providing clients with access to a range of trading technology solutions. To learn more, visit www.redi.com
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