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Deutsche Boerse Group
BNP Paribas and Clearstream’s collateral management collaboration goes live
* Cooperation on collateral management solution goes live with triparty
fixed income and equities trade
* Clearstream takes care of global collateral allocation, optimisation and
* BNP Paribas Securities Services remains the local custodian and carries
out local settlement and asset servicing
* Solution enables efficient collateral management with reduced
A collateral management service developed for customers of both Clearstream
BNP Paribas Securities Services has now launched across multiple markets
for both fixed income and equities. The live service enables mutual
to use Clearstream’s global collateral allocation, optimisation and
coverage while BNP Paribas Securities Services remains the local custodian,
managing local settlement and asset servicing for its clients.
The assets used for triparty purposes are moved automatically into a
Clearstream account in BNP Paribas Securities Services books, avoiding
manual cross-border processes for the clients. The first trade to go live
this cooperation involved Belgian, Italian, French and Dutch equities and
French and Dutch fixed income.
The partnership ensures customers of both institutions make optimal use of
their asset pool in BNP Paribas Securities Services to use in triparty
transactions managed by Clearstream within its Global Liquidity Hub.
efficiency in collateral management is a growing industry priority in the
of the upcoming regulatory changes requiring greater collateralisation of
Alain Pochet, Head of Clearing, Settlement and Custody at BNP Paribas
Securities Services, said: “We are pleased to offer the benefits of our
partnership with Clearstream to our clients. This first step – related to
income and equities in Belgium, France, Italy and Netherlands – will soon
extended to other markets depending on our client’s priorities. This
cooperation is essential in a strong regulatory context where our clients
to use their collateral assets wherever they are held with BNP Paribas
Securities Services. Transparency and automation are the key words of this
riskless solution, bringing a reduction of operation workload to our
allowing them to finance assets they would not have used before.”
Launch of the service was also warmly welcomed by Stefan Lepp, Head of
Securities Financing at Clearstream. “We’re delighted that the efficiency
this service – part of our Liquidity Hub Connect stream delivering
management services for agent banks – is now proven while being flexible
to cover a number of markets and asset classes. This development with BNP
Paribas Securities Services is another great example of how our Global
Liquidity Hub – a multi-layered, open architecture collateral management
environment – is continuing to expand in scope. Growing through smart
partnerships is part of our company DNA and we are pleased to have BNP
as a key market partner.”
About BNP Paribas Securities Services
BNP Paribas Securities Services, a wholly-owned subsidiary of the BNP
Group, is a leading global custodian and securities services provider
the strength of a universal bank. It provides integrated solutions to all
participants in the investment cycle including the buy-side, sell-side,
corporates and issuers.
The bank has a local presence in 34 countries across five continents,
global coverage of more than 100 markets. It partners with clients to help
overcome complexity, while offering a one-stop shop for all asset classes,
onshore and offshore, around the world.
Key figures as of 31 December 2012: USD 7,291 billion of assets under
USD 1,333 billion assets under administration, more than 6,979 administered
funds and 7,900 employees.
Clearstream is the post-trade services and global liquidity provider within
Deutsche Börse Group. As an international central securities depository
headquartered in Luxembourg, Clearstream provides the post-trade
for the Eurobond market and services for securities from 53 domestic
worldwide. Clearstream’s customers comprise approximately 2,500 financial
institutions in more than 110 countries. Its services include the issuance,
settlement and custody of securities, as well as investment fund services
global securities financing. With more than EUR 11.6 trillion in assets
custody, Clearstream is one of the world’s largest settlement and custody
for domestic and international securities. As a central securities
(CSD) based in Frankfurt, Clearstream also provides the post-trade
infrastructure for the German securities industry, offering access to a
number of markets in Europe.
Further information: www.clearstream.com
Media contact BNP Paribas Securities Services
Sarah Decottegnie, +44 20 7595 4653
Media contact Clearstream
Hazel Daniells, +352-243-32272
Further information from Deutsche Boerse Group
is available under http://deutsche-boerse.com/press
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