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EMCF appoints BNP Paribas Securities Services for settlement outsourcing in Italy and Spain

  • 15.09.2008
BNP Paribas Securities Services (‘BNP Paribas'), the custody bank with the world's best credit rating, has been selected by European Multilateral Clearing Facility N.V. (EMCF) for its settlement outsourcing in Italy and Spain.

EMCF, a wholly-owned Fortis subsidiary, is an independent central counterparty clearing house offering central counterparty services for equity trading on exchanges and multilateral trading facilities (MTF). BNP Paribas' solution will allow underlying EMCF clients to trade Italian and Spanish securities on multiple MTF platforms.

In Italy, BNP Paribas will act as account operator for EMCF, while in Spain, all registration processing will be outsourced to BNP Paribas, where the Bank will also act as Settlement Agent.

Jan Booij, CEO of EMCF commented: “The in-depth market knowledge and experience of the Milan and Madrid teams, in combination with a competitive service tariff and the high internationally acknowledged service rating, have convinced us to select BNP Paribas Securities Services as our settlement service provider for Italian and Spanish stocks.”

Alessandro Gioffreda, global head of clearing settlement and custody product, BNP Paribas Securities Services added: “We are delighted to be partnering EMCF in both Italy and Spain. Central counterparties are an important client segment for BNP Paribas Securities Services and EMCF an outstanding player in this segment. We are wholly committed to developing partnerships and solutions to open up new investment platforms and to reinforce our position as a solution provider to infrastructures.”


About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 4 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
BNP Paribas Securities Services (www.securities.bnpparibas.com) is a wholly-owned subsidiary of BNP Paribas. With €3.6 trillion assets under custody, €739 billion assets under administration and close to 6,000 funds administered, BNP Paribas Securities Services is the leading European provider of securities services 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 92 markets.
Press contact(s)
Press contacts
Celine Castex, Group Communications, Paris +33(0)1 42 98 15 91
celine.castex [at] bnpparibas (dot) com

Shani Halstead, Corporate Communications, London +44 (0)20 7595 2436
shani.halstead [at] uk.bnpparibas (dot) com