SGSS launches fixed income service for broker-dealers

The new fixed income clearing and settlement offering was developed as part of SGSS’ ongoing work with Accenture Post-Trade Processing.

By Joe Parsons

Societe Generale Securities Services (SGSS) has gone live with a new fixed income offering, expanding its clearing and settlement agent services for broker-dealers.

Trading venue Liquidnet, an existing client of SGSS, is the first to go live with the new service.

“Following on from the successful transition of our EMEA equity clearing to SGSS in 2016, we are pleased to grow this relationship by consolidating our clearing across both asset classes,” said Nadine Readie, head of EMEA trade services, Liquidnet.

Alex Krunic, head of sales and relationship management for global broker dealer services (GBDS) at SGSS, added the deal reflects the ongoing investment the bank is making into its UK securities services business.

The offering was developed as part of SGSS’ ongoing work with Accenture Post-Trade Processing (APTP), an outsourcing utility developed by Accenture and Broadridge Financial Solutions.

Accenture has helped SGSS expand their offering to provide settlement, reference data, books and records and administrative accounting services to Liquidnet and their other broker-dealer clients.

“GBDS benefits from Accenture Post-Trade Processing’s market-proven technology, leading robotics, AI innovation and analytic solutions. Our services enable financial institutions to deliver top-level services to their clients at a competitive price, based on a highly efficient, mutualised post-trade industry utility,” added Dean Jayson, global co-lead of Accenture Post-Trade Processing.