BNP Paribas Wins Local Custody Mandate in Brazil

BNP Paribas Securities Services has won and implemented a mandate in Brazil for local custody, settlement and FX from Connecticut-based broker-dealer Interactive Brokers Group (IBG)
By Jake Safane(2147484770)
BNP Paribas Securities Services has won and implemented a mandate in Brazil for local custody, settlement and FX from Connecticut-based broker-dealer Interactive Brokers Group (IBG)

BNP Paribas won the mandate in January, following a competitive tender, which the custodian says was based on their strong client support offering and advanced custody and reporting systems, which will bring operational efficiencies to IBG in the Brazilian market. BNP Paribas has been providing equity and listed derivatives post-trade services to IBG in the Italian market since 2003.

“We are very pleased to extend our long standing relationship with BNP Paribas to the Brazilian market. We were impressed with the sophistication of their operational set-up in the market and look forward to working with them to grow our franchise there,” says Brian Sussman, head of clearing operations of IBG.

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