Bladewatch.com

Finextra

BNP Paribas’ prime brokerage division has sold its hedge fund outsource technology business to vendor Options IT. Financial terms of the deal were not disclosed.

As part of the acquisition of the colocation business, a number of BNP Paribas hedge fund clients will have their technology infrastructure provided through Options IT’s Core system. All clients will continue to be BNP Paribas prime brokerage customers and will remain on its platform.

It’s always interesting to read what the different banks are getting up to technically or operationally, an interesting read, do check it out.

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