BNP Paribas Securities Services and Calypso team for post-trade services outsourcing
BNP Paribas Securities Services teams up with Calypso Technology
BNP Paribas Securities Services has teamed up with Calypso Technology to bring to market “a full, end-to-end post-trade services offering across asset classes” for investment banks.
The two companies will build “a new global, multi-asset class operating model”.
Treasury and capital markets (TCM) software specialist Calypso is providing its front-to-back office technology while BNP Paribas Securities Services is providing its post-trade servicing capabilities.
Functionality includes clearing and custody services, middle office services (confirmations, fees and commission management, and P&L reporting), and back office services (static data management, accounting, regulatory reporting, asset servicing, and standing settlement instructions).
According to Alain Pochet, head of clearing and custody services at BNP Paribas Securities Services, investment banks’ operating costs are on the rise due to new regulatory requirements and “mature technology platforms”. This prompts them to outsource post-trade functions, he says.
Clients will be able to better manage their costs and risks if they use just one provider for all their post-trade needs, Pochet adds. “They will also be able to extend their product range without having to bear development costs alone.”
