BNP Paribas Securities Services has launched an integrated post-trade service for banks and brokers who wish to trade stocks under the proposed cross-trade agreement between the London Stock Exchange (LSE) and the Singapore Stock Exchange (SGX).
The agreement between the two exchanges has been created to enhance liquidity and increase access for investors.
LCH.Clearnet will provide clearing services for the proposed cross-trade agreement. Through obtaining LCH.Clearnet and central securities depositories in the UK and Singapore, BNP Paribas will offer brokers the ability to clear, settle and safe-keep Singaporean stocks traded on the International Board, and FTSE 100 stocks traded on SGX.
Philippe Ruault, global head of clearing and settlement at BNP Paribas Securities Services, said: “We are a local custodian in 25 markets clearing two million executions daily as a member of 11 clearing houses globally.”
“We have a long track-record of simplifying complexity in the post trade environment. This puts us in a strong position to help clients with their post-trade requirements, and to help exchanges with their international growth ambitions. We look forward to supporting the LSE and SGX in future initiatives.”
Nicolas Bertrand, head of equity and derivatives markets at LSE, said: “This first of its kind partnership with SGX will offer our customers new, previously inaccessible opportunities and raise the profile of our listed companies.”
“The support of global custodians such as BNP Paribas is a clear endorsement of the International Board and the potential it offers investors in Singapore and London.”
