HSBC Securities Services (HSS) has launched its account operator service, which will allow local and cross-border broker-dealers to outsource their securities back-office operations to HSS, in Thailand.
By offering this service in Thailand, HSS will act on behalf of broker-dealer clients in the clearing and settlement of trades executed on the Thailand Stock Exchange while clients will continue to handle all front-office related activities such as research, trading and investor servicing.
The newly-launched service targets broker-dealers looking to access the Thai market while minimizing their local operational overheads and infrastructure, as well as those already present in the market looking to achieve cost and processing efficiencies by outsourcing back-office clearing and settlement functions to a service provider.
We are excited to be offering our account operator service in Thailand as broker outsourcing services are of great interest to clients at a time when cost management is an industry-wide priority, says Utumporn Viranuvatti, head of HSBC Securities Services in Thailand. This new service further enhances our service proposition to the broker-dealer community.
Colin Brooks, global head of Sub-Custody and Clearing, HSBC Securities Services, adds: The launch of our account operator service in Thailand demonstrates our commitment to further broaden our service offering to the broker-dealer clients and reinforces our determination to become the broker outsourcing provider of choice in Asia.
(CM)