HSBC is set to offer access to its securities services products via BlackRock’s Aladdin Provider technology.
Aladdin works as an operating system for investment managers that connects the information, people and technology needed to manage money in real time.
By joining the Aladdin Provider network, HSBC Securities Services explained it will be able to enable asset managers and asset owners to connect with HSBC through a single platform –
Aladdin.
Integrating HSBC’s middle office, custody and fund administration services with Aladdin will help clients in a number of ways.
According to HSBC, it will help them access real-time data, streamline their workflows, reduce their manual processes and improve their operational efficiencies, for an enhanced user experience.
In the first half of 2021, HSBC will begin rolling out its securities services offering on
Aladdin to clients globally, starting in Hong Kong and Singapore.
HSBC currently administers $500 billion of assets for 20 global asset managers who
already use Aladdin.
Sebastien Danloy, global head of asset owners and managers, securities
services, HSBC, said: “Joining the Aladdin Provider network adds to our existing
capabilities to connect to our clients’ front-office platforms and to offer front-to-back
solutions in an open architecture environment to the asset management community.”
Sudhir Nair, head of the Aladdin business, commented: “Working with firms like HSBC, we
are bringing innovation to asset servicing by transforming the traditional operating
model and delivering the efficiency and convenience our mutual clients have come to
expect. What we’re doing today with HSBC, I believe will become the industry
standard, and we’re proud to partner with them on this effort.”
HBSC has a longstanding relationship with BlackRock as fund administrator for its Asian exchange traded funds and, last year, became the first bank to offer the benefits of Aladdin Wealth, BlackRock’s portfolio and risk management platform for wealth managers, to high net worth customers around the world.
