The Luxembourg-based bank BGL BNP Paribas celebrates its centenary! Over a period of 100 years,...
BNP Paribas Securities Services has won The Banker's Award for Innovation in Clearing and Settlement Technology award for 2011.
The Third Party Clearing project in Hong Kong is, to date, the largest of its kind in the Asia-Pacific region and is a showcase of both BNP Paribas European experience and ability to apply its knowledge and systems to Asian markets.
According to The Banker, the project attracted acclaim because of the “cross-disciplinary approach” that combined adapting the bank's global platform to a complex local regulatory environment, while lending expertise as a leading global clearer across more than 20 markets in Asia and Europe to guide local regulators towards a legal framework that is aligned with global standards.
Since launching third party clearing (TPC) in Hong Kong at the beginning of the year, BNP Paribas quickly reached the first milestone to become the largest General Clearing Participant on the Hong Kong Stock Exchange (HKSE), clearing over 5% of the value of the HKSE's daily turnover in March.
With this further recognition of the value of TPC, BNP Paribas can demonstrate to large, top-tier brokers that they can outsource back-office operations through a solid infrastructure that efficiently and effectively manages and monitors risk along the entire clearing and settlement process, and achieves greater efficiencies in their equity trading operations.
The Banker's technology innovation award has been an annual event since 2003, and recognises the most innovative projects of the world's top financial institutions. The Technology 2011 awards are given to leaders in the global financial sector for excellence and innovation in banking technology that delivers sustainable value to the ever-changing needs of businesses.
Read moreAll news
The members of the (LA) HORDE collective are dancers, choreographers, directors and art...