Shore Capital outsources back office and settlement to BNPP SS

Shore Capital Markets has selected BNP Paribas Securities Services to provide back-office and settlement services.

London-based Shore Capital specialises in equity capital markets, corporate finance and market making, as well as stock broking.

It said the deal will enable it to scale its global operations, with Simon Fine, chief executive of Shore Capital Markets, adding: “We were very impressed with BNP Paribas’ credentials as a major service provider to the UK market. They have an outstanding record for client satisfaction as well as the scale and expertise worldwide to provide the high quality back office services that we need.”

BNP Paribas Securities Services said it was seeing an increasing number of broker dealers looking to delegate back office services, clearing and settlement functions.