BNP Paribas Securities Services has launched a service that allows financial intermediaries to shorten their deployment time to new markets, optimising liquidity and boosting client service.
Delivered through a single point of contact, BNP Paribas’ solution “enables access to robust settlement, clearing and custody services in more than 100 countries, meaning clients benefit from smoother instruction, reporting and reconciliation processes, and faster on-boarding”.
It says that establishing proximity in new markets is key to financial intermediaries wanting to grow their trading activities and capture new business. Yet building the requisite critical mass introduces rising settlement and custody costs by complicating cash management and on-boarding requirements, and the added costs of working with more local agents in each market.
Commenting on the development, Philippe Ruault, head of clearing, settlement and custody products at BNP Paribas Securities Services, said, “In the current climate, the number one concern for financial intermediaries is maintaining their volumes and margins – so anything which can actually boost growth is in very strong demand right now. Our solution removes virtually all of the complexity involved with implementing and managing moves into new markets, thus enabling banks and brokers to react quickly to business opportunities in new territories.”
Eric Roussel, head of trade and market services at BNP Paribas Securities Services, said, “With this critical aspect of their post-trade infrastructure under our management, clients can focus their efforts on their core business activities.”