BNP Paribas has put together a dedicated team to migrate its clients onto any of the current or future MTFs. Through its ClearSuite solution, the Bank set-out a strategy aligned to working with the new MTFs and the Central Counterparties (‘CCPs') to address the different needs of both the buy-side trading participants as well as the sell-side. Our hybrid model enables buy-side clients to trade directly with the MTFs, at the same time we offer GCM services on the CCP to sell-side clients.
Alan Cameron, Head of Clearing, Settlement & Custody Client Solutions at BNP Paribas added: “Our ClearSuite product offers clients access to more exchanges, MTFs, CCPs and CSDs. It is a compelling proposition for clients facing fragmenting markets. Agent banks, such as BNP Paribas, have a key role to play in helping clients through this complicated infrastructure. This is important if Europe's capital markets are to compete globally.”
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 3 strongest banks in the world according to Standard & Poor's. The group is present in over 85 countries, with more than 168,000 employees, including 129,500 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank's two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
About BNP Paribas Securities Services
As a wholly owned subsidiary of BNP Paribas, BNP Paribas Securities Services (www.securities.bnpparibas.com) is the world's highest rated custody bank (Standard & Poor's AA+). With €3.6 trillion assets under custody, €744 billion assets under administration and close to 6,000 funds administered, BNP Paribas Securities Services is the eurozone's leading securities services provider and rated number 5 in the world.
BNP Paribas Securities Services has a unique multi-local model, servicing both the buy-side and sell-side with 5,600 employees worldwide, a local presence across 25 countries and global coverage of 100 markets.