BNP Paribas becomes sub-custodian for Clearstream 10 December 2020Australia Reporter: Maddie Saghir
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BNP Paribas Securities Services has gained a new mandate from Clearstream as local sub-custodian in Australia and New Zealand.
This mandate builds upon the relationship between the two which already includes local clearing and custody across the Euronext and Turkish markets.
By adding BNP Paribas Securities Services as local sub-custodian, Clearstream explained it can continue to provide services in Australia and New Zealand as part of its international network.
Via its Clearstream Australia subsidiary, international and domestic investors also received support and access to Australian and international investment funds.
Samuel Riley, head of investor services and financing at Clearstream, said: Together with our recently opened Clearstream Australia subsidiary, this new partnership gives us the best conditions to serve our local customers and international customers investing in this thriving region.”
Luc Renard, head of financial intermediaries client line and digital transformation Asia Pacific at BNP Paribas Securities Services, added: The alignment between our firms’ ambitions in Australia and New Zealand together with our innovative digital solutions will enable us to develop new custody models to meet our clients’ changing needs in these innovative markets.”
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