BNP Paribas Securities Services has expanded its global dealing services solution to asset managers and owners in Australia.
A dealing desk, used to identify and access liquidity in markets and follow best execution practices, has historically been the domain of asset managers.
However, firms such as BNP Paribas have been increasingly pushing outsourced services, which promise efficiency gains and a return to core functions for investment managers.
Pierre Jond, managing director of BNP Paribas Securities Services Australia and New Zealand, said: "The dealing services solution is a real differentiator for us. Previously, alternative outsourced solutions may have required users to end their established broker relationships and the associated benefits, such as access to research and market news.”
“This new offering allows clients to keep their existing broker panel, while improving dealing efficiency and cutting costs, making it a highly compelling proposition.”
Natalie Floate, head of market and financing services at BNP Paribas Securities Services Asia Pacific, said: “This solution is attractive, as it can be implemented for a specific asset class or market only, and is offered stand-alone or within a suite of custody services. Our dealers are neutral in their interactions with brokers, guaranteeing full alignment with clients’ interests.”
