BNP Paribas Securities Services’ dealing services desk for buy-side clients will insource the dealing activities of Neuflize OBC, ABN AMRO Group subsidiary.
The outsourcing agreement extends to equities, ETFs, derivatives and bonds for institutional and private clients. The dealing services providers Neuflize OBC with an operating model and teams of specialist traders based in Paris, London and Hong Kong, covering all asset classes on all global markets.
Carl James, managing director of BNP Paribas Dealing Services UK, said: “This new partnership with Neuflize OBC will enable different management entities to benefit in full from the value-add we can bring to managing private and institutional orders. The fact that we have been chosen to partner with such a prestigious and innovative company for an operation of this magnitude is a clear reflection of the successful fit of our multi-broker and multi-asset class offer with today’s market environment”.
Neuflize OBC’s outsourced dealing functions were previously limited to administrative and fund accounting operations.
Yann Charraire, head of Marketing, Products and Solutions, Member of the Executive Committee at Neuflize OBC, said: “We chose to work with BNP Paribas Securities Services to enable us to focus exclusively on managing our core business activities, whilst benefiting from a better access to liquidity and solidity offered by a major group. We are confident that the Dealing Services platform has a valuable contribution to make to our future development across all of our asset classes, markets and clients”.