BNP Paribas Securities Services (BNP Paribas) has introduced a fully outsourced dealing service for buy-side firms. The move is part of the custodian bank’s formal unveiling of an expanded range of market and financing services to help institutional investors and financial intermediaries as they seek to extract more value from assets they entrust with custodians while limiting their risk exposure and navigating new regulation.
Alongside custody, clearing and fund administration, the banks Market and Financing Services business line offers principal and agency lending, foreign exchange and collateral management as well as a variety of financing solutions to asset owners, asset managers, including alternatives, and broker-dealers.
A spokesperson for the bank said: “Given market conditions, we couldn’t have formally unveiled the services sooner. Although we’ve offered them previously, this is a formal unveiling that reflects the uptick in demand for these services that we’ve seen since the beginning of the year.”
Florence Bonnevay, head of Market and Financing Services, BNP Paribas Securities Services said: In the current environment, reducing risk and increasing profitability are challenges that have shot to the top of the agenda for investors that manage large asset pools.”
We have positioned ourselves as a fully integrated banking service provider to the buy-side, managing their dealing, collateral and liquidity requirements enabling them to concentrate on their core business, Bonnevay continued.
Patrick Colle, CEO, BNP Paribas Securities Services, said We took the strategic decision to expand our market and financing services following what we saw as tremendous growth potential. New regulation particularly around risk management does present challenges, but there are also opportunities for clients and service providers.”
This development is a crucial landmark in our strategy towards becoming a truly global player with a complete offer for both institutional investors and financial intermediaries, concluded Colle.
(JDC)