Squawker—the negotiation venue for pan-European sell-side block trading—has selected BNP Paribas Securities Services as its pan-European central settlement provider.
BNP Paribas Securities Services will act as the central settlement provider for all trades executed on Squawker after its launch in April.
Christopher Gregory, CEO and co-founder of Squawker, said: “The last remaining pieces to Squawker’s pan-European launch are now slotting into place. We are currently looking to on-board around 100 sell-side firms in this initial phased go-live.”
“As Europe’s largest and most robust clearing firm, BNP Paribas was the obvious choice of central settlement provider for Squawker.”
James McAleenan, head of BNP Paribas Securities Services, UK, said: “This new mandate confirms BNP Paribas’s expansion in the broker dealer and banks segment and demonstrates our commitment to this market, across Europe and to the UK.”
“Working with clients such as Squawker also highlights our appetite for innovation and our ability to adapt quickly to the fast-paced and evolving environment.”
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