London/Paris – BNP Paribas Securities Services today announced that it has successfully processed and settled Chi-X trades in the Netherlands and Germany on behalf of its first client acting as a Chi-X trading participant.
In April 2007, BNP Paribas Securities Services was approved as a ‘general clearing participant’ for Instinet Chi-X Limited’s new pan-European equity alternative trading system (ATS). EMCF NV (Fortis) acts as the central counterpart covering several European markets, including Netherlands (AEX 25) and Germany (DAX 30). End of June 2007, BNP Paribas Securities Services will start clearing UK stocks according to EMCF NV planning.
With ‘general clearing memberships’ in most of the European markets, both new and traditional, BNP Paribas Securities Services continues to leverage its unique expertise that provides worldwide broker-dealers with a comprehensive range of clearing and settlement related services.
Patrick Colle, Head of Product – Clearing, Settlement and Custody at BNP Paribas Securities Services, commented: “The launch of the activity has been very smooth and it has already positioned us as a leading provider of clearing services in relation with the new multi-trading venues that will spring up with the implementation of MiFID.” He added: “We aim to provide the same level of quality and efficiency for any future MTF implementation, helping our clients overcome the new regulatory and operational challenges post-MiFID, but also enabling them to take advantage of the new trading opportunities that will result from it.”
NOTES TO EDITORS
BNP Paribas Securities Services
BNP Paribas Securities Services is a leading securities services provider to the world’s financial institutions, with a local presence in all key European markets as well as in the US and Australasia. With 4,550 dedicated staff in 18 countries, BNP Paribas Securities Services has 900 clients, including 8 of the world’s top 10 investment managers, and a global custody network covering 91 markets. It holds EUR 3.66 trillion of assets under custody (March 2007) and EUR 747 billion of assets under administration for 5,753 funds worldwide. BNP Paribas Securities Services also provides investment reporting, performance attribution and risk measurement services for 2,500 portfolios. In 2006, BNP Paribas Securities Services processed over 32
Shani Halstead, Corporate Communications London – Tel: +44 (0)20 7595 2436
Celeste Matta-Brown, Corporate Communications London –Tel: +44 (0)20 7595 4653
Hélène Delannoy, Corporate Communications Paris – Tel: +33 1 40 14 65 14