BNP Paribas has expanded its broker-to-custody offering and has been selected by Luxembourg-based bank, Spuerkeess to provide custody services.
Spuerkeess will use the broker-to-custody solution to execute and settle trades on behalf of its retail clients.
BNP Paribas’s integrated broker-to-custody solution, which was previously available in the US and Asia-Pacific, is now available across Europe — following BNP Paribas’s recent expansion in equities flow trading in the region.
Using BNP Paribas’s open architecture, Spuerkeess clients can execute trades via BNP Paribas and other participating brokers while benefiting from integration with BNP Paribas Securities Services’ custody offering and global reach.
Integrating execution and custody will enable Spuerkeess’ clients to execute and settle trades across different markets with one single instruction.
Aly Kohll, executive vice president at Spuerkeess, says: “We are very pleased to have selected BNP Paribas as our new provider of an integrated broker-to-custody solution. This partnership with one of the leading global custodian and securities services providers ensures Spuerkeess a fully automated operational process while giving our clients a seamless and highly efficient access to some 20 European equity markets.”
Torsten Schoeneborn, global co-head of electronic equities and portfolio trading at BNP Paribas, comments: “Leveraging our highly innovative trading platform, we believe that we are in a unique position to offer unparalleled client service. We look forward to delivering a seamless experience across the entire trade lifecycle from pre-trade services and execution all the way to settlement and reporting to Spuerkeess.”
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