BNP Paribas goes live on ASX corporate actions service
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BNP Paribas goes live on ASX corporate actions service 03 November 2017Sydney Reporter: Stephanie Palmer
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BNP Paribas Securities Services has become the first custodian to implement the Australian Securities Exchange (ASX) ReferencePoint ISO 20022 corporate actions announcement service, using Swift global messaging.
The new service offers straight-through delivery of corporate actions announcements, getting information to clients within seconds of the announcements being made.
ASX has hailed the service as the first step towards a fully-automated end-to-end solution, intended to remove some of the inefficiencies in the processing of corporate actions.
Luc Renard, head of financial intermediaries and corporate clients for the Asia Pacific at BNP Paribas Securities Services, said: "This latest enhancement is part of our augmented custody programme, which is designed to make our custody processes more efficient, and complements the work we are currently undertaking to manage the corporate actions announcement process using blockchain technology.”
David Raper, executive general manager for trading services at ASX, said: “ASX is setting the pace for providing straight-through processing for issuer announcements, and the fact that BNP Paribas is the first custodian in Australia to embrace this new technology confirms the team’s reputation for innovation.”
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