BNP Paribas Securities Services has extended its clearing services to the Singapore market by joining the Singapore Exchange (SGX) as a Central Depository (CDP) clearing member.
The firm says it is part of a move to expand its presence in Asia and offer a wider choice of clearing and settlement services in the local markets.
We look forward to providing our innovative clearing services to market participants, while further promoting the Singapore market to our worldwide client base, says Bruno Campenon, head of Clearing, Custody and Settlement Product Management in Asia Pacific at BNP Paribas Securities Services SCA.
The SGX securities market has 27 clearing members, while the derivatives market has 26 clearing members and 42 trading members.
The SGX AsiaClear derivatives clearing unit has 11 clearing members clearing OTC derivatives. The unit recently extended its OTC clearing service to include swaps and futures contracts.
(CG)