02/02/2012 Author: Jeanene Timberlake (New York)

BNP Paribas launches prime brokerage iPad app, considers future functionality

BNP Paribas is considering adding trading capabilities and other functionality to its recently launched iPad app for the prime brokerage business, according to John Bruno, global head of prime brokerage technology.

Bruno told HFMWeek’s sister publication WSL that the app, launched Wednesday, could have offered the trade execution and other complex features sooner - but that the bank has initially opted to not to while it finalises security features.

As launched, clients currently can use the app to view a full suite of reports, real-time profit and loss summaries, positions and rankings, as well as details of executed trades, corporate actions, and wire transfers. The app can also be used to view custody balances, activity and positions, said Bruno.

BNP will examine client use of the app for approximately six months before making a final decision or taking any action towards expansion, he said. The delay was also based on concern that app could have issues that would adversely affect trading or other activity, he added.

“As people become more reliant on [the app], we’ll decide how far we go,” he concluded.