France's BNP Plans To Buy Quant-Shop Cooper Neff
MANAGEMENT AND STRATEGY
Banque National de Paris (BNP) has set plans to buy Cooper Neff & Associates, a Philadelphia-based proprietary trading company specializing in quantitative approaches to the exchange-traded options market. Bank officials cite Cooper Neff's strong inhouse technology arm as a significant factor behind the acquisition.
According to Philippe Bordenave, head of global markets at BNP, the bank will have bought "most of the operations" of Cooper Neff by the end of this year. The exception is Cooper Neff
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