BNP Paribas provides a wide range of bond services and products, with global coverage and involvement in many markets, including origination securitization, syndication, trading, sales, quantitative research, strategic research and portfolio management. BNP Paribas also offers government, proxy and securitized, high-grade and high-yield debt; commercial paper; repo; short-term products; asset swaps and FRN's; hybrid capital; structured products; credit derivatives and emerging markets. Located in London, Paris, New York and Tokyo, BNP Paribas has trading and sales forces in many other locations, offering both local specialists and a global view. BNP Paribas has served as a founding partner in several eCommerce platforms, including Brokertec, EuroMTS, MTS Japan and other domestic MTS markets. It is active in many other eMarkets, providing clients with access to the very best in low-cost liquidity, origination and syndication.