BNP Paribas Securities Services has been selected by European Multilateral Clearing Facility N.V. (EMCF) for its settlement outsourcing in Portugal.
BNP Paribas solution will allow underlying EMCF clients to trade Portuguese securities on multiple MTF platforms and in Portugal, BNP Paribas will act as settlement agent for EMCF.
Jan Booij, CEO of EMCF commented: The in-depth market knowledge and experience we have already encountered with BNP Paribas in Italy and Spain, in combination with the high internationally acknowledged service rating, have convinced us to select BNP Paribas as our settlement service provider for Portugal too, subject to the regulatory approval, which we expect very soon.”
Alan Cameron, global head of clearing, settlement and custody client solutions, BNP Paribas Securities Services added: We are delighted to extend our partnership with EMCF to Portugal. Bringing our solutions to central counterparties is an important component of our offer and EMCF is an outstanding player in this segment. We are wholly committed to developing partnerships and solutions to open up new investment platforms and to reinforce our position as a solution provider to market infrastructures.