HSBC Securities Services Offers Third Party Clearing in Singapore

HSBC Securities Services (HSS) now offers third party clearing (TPC) services in Singapore, as the bank has been approved as a Bank Clearing Member for securities by Singapore Exchanges Limited (SGX).

SGX-registered broker-dealers can use HSBC for clearing trades, and after exchange settlement HSBC will credit their end client’s or proprietary accounts.

In addition to using HSBC for TPC, broker-dealers can use the bank for clearing activities under the broker-dealer’s own SGX clearing membership.

As part of its services offering, HSBC provides clients with a real-time web portal to manage performance and risk.

“HSBC’s admission as a Bank Clearing Member of the SGX allows us to deploy our comprehensive and complimentary set of back office products and services to our clients in Singapore…The clearing membership enables us to offer a fully integrated proposition to our clients, relieving them of the cost challenges associated with post-trade settlement and allowing them to focus on their core business of trading and execution,” Tony Lewis, Head of HSBC Securities Services Singapore.