Societe Generale Securities Services (SSGS) has chosen Liquidnet to enhance its post-trade services.
SGSS UK has launched its fixed income offering—an extension of a new asset class for Liquidnet, an existing client, as part of the Global Broker Dealer Services (GBDS) franchise.
Through this fixed income mandate, SGSS is looking to expand its existing equities clearing and settlement agent service.
The offering was developed as part of SGSS's ongoing work with Accenture Post-Trade Processing, a collaboration between Accenture and Broadridge Financial Solutions to provide post-trade processing and technology services.
GBDS provides an end-to-end post-trade solution for mid-tier broker dealers to meet the challenges of regulatory change, IT and operational expenditure.
It overlays traditional banking services—credit and financing—with global market coverage via a single-entry point and a single legal agreement service into the Societe Generale network.
Nadine Readie, head of Europe, Middle East and Africa (EMEA), for trade services at Liquidnet, said: “Following on from the successful transition of our EMEA equity clearing to SGSS in 2016, we are pleased to grow this relationship by consolidating our clearing across both asset classes.”
She added: “SGSS’s commitment to offer a diverse range of services built through strong client engagement and service ethic, compliments Liquidnet’s desire to continue to provide a best in class experience for our members.”
Alex Krunic, head of sales and relationship management for GBDS, said: “We are delighted to be building on our existing relationship with Liquidnet for the provision of fixed income services. Liquidnet is a key client for our business and we are pleased that they have reinforced their trust and commitment to SGSS and GBDS. This deal also demonstrates the ongoing investment and our long-term commitment to the Securities Services business in the UK.”
Dean Jayson, a managing director at Accenture and global co-lead of Accenture Post-Trade Processing, commented: “We are proud to continue to help SGSS GBDS expand their offering and provide settlement, asset servicing, reference data, books and records and administrative accounting services to their clients and Liquidnet.”
He added: “GBDS benefits from Accenture Post-Trade Processing’s market-proven technology, leading robotics, artificial technology innovation and analytic solutions. Our services enable financial institutions to deliver top-level services to their clients at a competitive price, based on a highly efficient, mutualised post-trade industry utility.”
