BNP Paribas Securities Services has been selected to provide back-office services in the Asia Pacific region for the institutional trading network Liquidnet.
Liquidnet connects more than 770 asset managers to source investment opportunities across 43 markets around the world. BNP Paribas will provide third party clearing, settlement services, and assistance with record keeping.
The mandate aims to help Liquidnet to grow its equity trading business, reducing manual processes and risk in broker confirmation and custody processing.
Andrew Walton, COO of Liquidnet Asia Pacific, said: “We are excited to announce our partnership with BNP Paribas Securities Services. Through their offering, we are able to further improve operational efficiency and provide a smooth flow of post-trade processes and reporting to our clients in Asia under US regulations.”
“Liquidnet, with the help of BNP Paribas Securities Services, will be able to focus on our core business, which is connecting global investment managers to source block size liquidity opportunities across markets and continents.”
BNP Paribas will handle post-trade activity in Hong Kong and provide broker dealer services in the US via BNP Paribas Prime Brokerage Inc Subsidiary. This complements the Asia-Pacific service by ensuring compliance with the US Securities and Exchange Commission rules when processing transactions related to Liquidnet’s US customers.
James O'Sullivan, head of client development, banks and broker dealers at BNP Paribas Securities Services Hong Kong, said: “We are pleased to be partnering with Liquidnet as they build scale and sustainability across the globe.”
“We are seeing more and more organisations in Hong Kong and Singapore partnering with specialist post trade service providers when expanding abroad and when adapting to international regulations such as derivatives clearing, trade reporting and new capital requirements.”
