Sanford C Bernstein selects BNP Paribas Securities Services as its settlement provider

Broker dealer extends partnership with BNP Paribas Securities Services to include settlement services across Europe.

By Jonathan Watkins

BNP Paribas Securities Services has been mandated by pan-European brokerdealer Sanford C Bernstein to provide settlement services in Austria, Germany, Italy, Turkey and Euroclear Bank. 

The appointment follows Sanford C Bernstein’s decision to consolidate its providers in Europe and strengthens its relationship with BNP Paribas Securities Services which already provides the brokerdealer with settlement services across seven European markets. 

Sanford C Bernstein said it selected BNP Paribas Securities Services for its international reach, and global and multi-local expertise across asset classes. 

 “We have built a strong and longstanding relationship with the team at BNP Paribas Securities Services and I am pleased to be able to extend this even further,” said Lawrence Patrizio, global head of brokerdealer operations at Alliance Bernstein. 

As part of our decision to consolidate service providers, BNP Paribas Securities Services stood out for the level of connectivity they provide across multiple markets.” 

It’s been an eventful week for the French-headquartered custodian which completed a strategic agreement with mutual fund platform Allfunds to build a next-generation fund distribution platform, and had also completed a proof of concept (PoC) to transfer security tokens securely between market participants.  

When it comes to mandates, the custodian has secured valuable deals this year including agreements with AXA Belgium and French fund manager Eurazeo. 

“We are delighted to expand our partnership with Sanford C Bernstein,” said Bruno Campenon, global head of financial intermediaries client lineBNP Paribas Securities Services. 

Their consolidation with us in Europe highlights our connectivity and expertise in the region and their ongoing satisfaction with our services.”