BNP Paribas Securities Services has been mandated by online stock broker CMC Markets to provide global custody and settlement services for its $600 million of assets in Australia.
BNP Paribas will provide CMC Markets with custody and settlement services for international equities, exchange traded funds (ETF) depository receipts, and closed-end funds across 11 countries.
“The mandate is an enterprise grade solution that both enhances operational efficiencies and enables us to expand our market-leading solution, facilitating customers’ access to the US market, as well as major European and Asian markets,” said Andy Rogers, head of stockbroking, CMC Australia.
“This makes our platform even more compelling for traders and investors, who are consistently seeking greater access to international markets and diversity in their portfolios.”
By partnering with BNP Paribas, CMC Markets will also gain access to its flexible account structures and real-time information and reporting services to enhance operational efficiency.
“This is a prestigious new mandate which will consolidate our position as a leading custodian in Australia. Thanks to our global and multi-local model, CMC Markets will benefit from BNP Paribas’ investment in digital innovation, combined with our local market expertise and client support,” said Luc Renard, head of financial intermediaries and corporates, Asia-Pacific, BNP Paribas Securities Services.