BNP Buys Trading Boutique Cooper Neff In Bid For Leading Spot In Derivatives
BANKS
Banque Nationale de Paris has bought U.S.-based trading boutique Cooper Neff in an effort to boost its derivatives and options trading strength, bank officials announced last week. The move -- which emulates similar buyouts of derivatives boutique firms over the past few years by Chase Manhattan Bank, Swiss Bank Corp. and NationsBank -- is likely to double the size of BNP's options trading operations, according to Philippe Bordenave, head of global markets.
He says one component of the deal is
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