The triparty collateral management service has been extended beyond Italy and Spain to Belgium, France, Germany and the Netherlands.
Frederic Hannequart, chairman of Euroclear Bank, said: “Our partnership is part of the on-going extension of the Collateral Highway to more markets globally. The technology used allows for the automatic mobilisation of both fixed income and equities collateral at a lower cost than other cross-border triparty collateral providers.”
“The partnership will enable mutual sell-side clients to manage equities and fixed-income securities collateral held at both BNP Paribas and Euroclear in each domestic market.”
Alain Pochet, head of clearing, custody and settlement at BNP Paribas Securities Services, added: “Our Collateral Access - Connect service is part of our wider Collateral Access suite of products and services, which helps our clients source securities and maximise the use of their assets.”
BNP Paribas joined the Collateral Highway of Euroclear in March 2013.
The Collateral Highway links commercial and investment banks, supranationals, central banks, central counterparties and other capital market infrastructure providers across time zones and markets.
It mobilised an average of €787 billion of collateralised transactions daily in 2013, a 12 percent increase year-on-year.