Linear Investment Limited, a mini prime broker providing services for international asset managers and hedge funds, has selected Societe Generale Securities Services (SGSS) in the UK to provide its Global Broker-Dealer Services (GBDS) outsourced solution.
The solution offers an integrated set of services including execution, liquidity support, middle-and back-office processing, core securities processing and asset servicing.
Linear intend to use it primarily to support growth in its European equities brokerage business.
According to SGSS, the solution was developed in response to demand from institutional brokers, mid-tier banks and broker-dealers, who are starting to outsource non-core activities in order to reduce costs and to focus on their key business.
CEO of Linear Paul Kelly said: "When looking at the potential providers of broker-dealer post-trade services in the market it was clear that SGSS’s GBDS offers brokers the best solution and set up for post-trade activities."
Guillaume Heraud, global head of business development for financial institutions and brokers at SGSS, said: "We value the opportunity to partner with Linear and are fully committed to providing unparalleled broker-dealer services in the market at a time when the institutional brokerage community is looking for greater support.”
He added: “With an unprecedented growth in sell-side outsourcing in response to regulatory and cost pressures, we are seeing that GBDS provides brokers with much more than just a post-trade platform – we become an extension of the client team."
