BNP Paribas Securities Services is launching a new ‘Augmented Custody’ programme to improve custody and corporate actions processes.
Using data management tools and digital technology, along with the bank’s presence in various local markets, the programme is intended to give clients better access to international markets and to help them manage their investments more efficiently.
Improvements include faster corporate actions and income notifications, with notifications released within six hours of market announcement for direct market access, and within 12 hours for global access.
Instruction deadlines for voluntary events will also be extended, allowing clients to send instructions up to five hours before market deadline for direct market access, and between eight and 12 hours before market deadline for global access.
Harmonised corporate actions, income and tax reports across all markets should improve the bank’s data management platform, and data access will be improved through the BNP Paribas Data Navigation Analysis platform.
Patrick Colle, general manager of BNP Paribas Securities Services, said: “Custodians have a huge role to play in helping their clients maximise the efficiency of their operations and keep their competitive edge. This is why we are making our custody processes better, faster and simpler. Our ambition is to enhance our core services thanks to the power of digital.”
The developments will be rolled out in phases, with some already in effect and others coming in by the middle of 2017.
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