The DDQ was at risk of becoming unstuck as network managers pumped the document with their own proprietary questions.
Tag: Sub custody
Some sub-custodians have witnessed a dramatic increase in the number of questions being asked in their due diligence questionnaires.
Increased competition from its Nordic rivals has created a tougher environment for DNB to secure international sub-custody clients in the country.
BNP Paribas has stressed the importance of the local expertise that a sub-custodian provides.
Custodians are reportedly assessing their position in certain markets.
With some players consider disintermediating sub-custodians, the industry could be in jeopardy, according to NeMa panelists.
Global Custodians may need to maintain contingency to deal with risks of default, NeMa conference hears.