BNP Paribas Securities Services becomes the largest Third-Party ...
BNP Paribas Securities Services becomes the largest Third-Party ...
BNP Paribas Securities Services becomes the largest Third-Party ...
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Hong Kong, 2 March 2011<br />
PRESS RELEASE<br />
<strong>BNP</strong> <strong>Paribas</strong> <strong>Securities</strong> <strong>Services</strong> <strong>becomes</strong> <strong>the</strong><br />
<strong>largest</strong> <strong>Third</strong>-<strong>Party</strong> Clearer in Hong Kong<br />
<strong>BNP</strong> <strong>Paribas</strong> <strong>Securities</strong> <strong>Services</strong> (BP2S) is pleased to announce that it has become <strong>the</strong> <strong>largest</strong><br />
General Clearing Participant on <strong>the</strong> Hong Kong Stock Exchange (HKSE), clearing over 5% of <strong>the</strong><br />
value of <strong>the</strong> HKSE's daily turnover. This is a major milestone in <strong>the</strong> Bank's clearing settlement<br />
and custody's business in Asia.<br />
Drawing on BP2S' commanding position as global clearer across more than 19 markets in Asia<br />
and Europe, this development is <strong>the</strong> result of a joint effort by <strong>the</strong> Bank and local regulators,<br />
helping to continually shape and refine <strong>the</strong> framework for clearing in Hong Kong over <strong>the</strong> last 12<br />
months.<br />
The Bank's latest third party clearing (TPC) achievement is a project launched in cooperation<br />
with <strong>BNP</strong> <strong>Paribas</strong> Global Equities and Commodity Derivatives (GECD) team in Asia, where GECD's<br />
clients can immediately benefit from increased operational efficiencies across all sizes of<br />
operation.<br />
"By launching <strong>the</strong> <strong>largest</strong> TPC project to date in <strong>the</strong> region, we are delighted to have this<br />
opportunity to fur<strong>the</strong>r demonstrate our role as natural innovators in Hong Kong." commented<br />
Bruno Campenon, Head of <strong>BNP</strong> <strong>Paribas</strong> <strong>Securities</strong> <strong>Services</strong> in Hong Kong. "This project is clear<br />
evidence that <strong>the</strong> significant benefits of TPC can now be enjoyed by large, top-tier brokers,<br />
helping <strong>the</strong>m to manage <strong>the</strong>ir risk and <strong>the</strong>ir workforces more effectively."<br />
Pierre Rousseau, Global Head of Global Equities and Commodity Derivatives, <strong>BNP</strong> <strong>Paribas</strong> Asia<br />
Pacific, welcomed <strong>the</strong> developments. "Our clients will benefit from one of <strong>the</strong> most sophisticated<br />
technical platforms and comprehensive trading and clearing solutions available in <strong>the</strong> market in<br />
Asia. This will reduce clients' risk along <strong>the</strong> entire clearing and settlement process, and achieve<br />
greater efficiencies in <strong>the</strong>ir equity trading operations."<br />
This development is ano<strong>the</strong>r indication of <strong>the</strong> growing trend towards outsourcing in Hong Kong,<br />
as highlighted in BP2S's research report ('Back Office outsourcing: Where to draw <strong>the</strong> line?')<br />
published in June 2010.<br />
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Hong Kong, 2 March 2011<br />
About <strong>BNP</strong> <strong>Paribas</strong> <strong>Securities</strong> <strong>Services</strong><br />
<strong>BNP</strong> <strong>Paribas</strong> <strong>Securities</strong> <strong>Services</strong> is a wholly-owned subsidiary of <strong>the</strong> <strong>BNP</strong> <strong>Paribas</strong> Group, delivering<br />
flexibility and commitment, backed by <strong>the</strong> strength of a leading universal bank.<br />
Operating across <strong>the</strong> investment cycle, we provide post-trade administration solutions to buy-side and<br />
sell-side financial institutions and issuers. The Bank has a local presence across 32 countries and global<br />
coverage of over 100 markets, offering a one-stop shop for all asset classes, both onshore and offshore,<br />
across <strong>the</strong> globe.<br />
With USD 6,237 billion of assets under custody, USD 1,026 billion assets under administration and over<br />
6,000 funds administered as at 30 September 2010, <strong>BNP</strong> <strong>Paribas</strong> <strong>Securities</strong> <strong>Services</strong> is Europe’s leading<br />
securities services provider and number 5 worldwide.<br />
securities.bnpparibas.com<br />
About <strong>BNP</strong> <strong>Paribas</strong> Corporate and Investment Banking<br />
<strong>BNP</strong> <strong>Paribas</strong> Corporate and Investment Banking employs about 20,000 people in over 50 countries and<br />
services 13,000 corporate and institutional clients worldwide.<br />
<strong>BNP</strong> <strong>Paribas</strong> CIB excels in:<br />
Derivatives - where it is one of <strong>the</strong> leading global players in rates, credit, forex, commodity and equity<br />
derivatives.<br />
Capital markets - where it is one of <strong>the</strong> top European houses in both ECM and DCM (bond, securitization,<br />
convertibles and equity issuance)<br />
Structured finance - where it is amongst <strong>the</strong> leaders in acquisition, export, project, energy and commodity<br />
finance globally.<br />
www.cib.bnpparibas.com<br />
Press Contacts<br />
Lilian Kung<br />
Brenda Woo<br />
+852 2909 8849 lilian.kung@asia.bnpparibas.com<br />
+852 2909 8813 brenda.woo@asia.bnpparibas.com<br />
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