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NZX has accredited BNP Paribas Securities Services* as a depository participant of the New Zealand Clearing and Depository Corporation Limited (NZX Clearing).
BNP Paribas Securities Services is the first global custodian to join NZX Clearing Depository since it was founded in 2010. This accreditation continues BNP Paribas Securities Services’ ability to offer differentiated and innovative services to their clients, including bringing buy-side and sell-side clients closer together in the market.
BNP Paribas’ Location Manager of the New Zealand business Doug Cameron, said: “We are delighted with this accreditation which enables us to offer market participants an agnostic approach for depository and settlement channels. The NZX depository access aligns with our Augmented Custody programme which aims to increase process automation and achieve faster corporate actions and income announcements.
This initiative compliments our strategy to access new market segments and bring new solutions to our global sell-side clients.” concluded Mr. Cameron.
NZX Executive Director for Markets Development & Clearing, Benjamin Phillips, commented: “The accreditation of BNP Paribas Securities Services’ reinforces NZX’s commitment to provide the New Zealand market with an increasingly efficient, innovative and cost effective central securities depository service.”
“This accreditation will continue to ensure NZX provides investors in our capital market with greater choice in relation to the way their financial assets are held, and the cost they incur for central securities depository services.”
BNP Paribas Securities Services Participant accreditation is effective immediately.
BNP Paribas Securities Services accreditation follows Hobson Wealth Partners Limited accreditation as an NZX cash market trading and clearing participant in July 2018. These accreditations underpin NZX’s commitment to increasing participation within the exchange to provide greater choice for investors looking to access the New Zealand market.
About BNP Paribas Securities Services (www.securities.bnpparibas.com)
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With local expertise in 36 countries and a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide
*BNP Paribas Securities Services Australia branch has been accredited as a Depository Participant and Legal Title Transfer Depository Participant. BNP Paribas Securities Services’ wholly owned subsidiary BNP Paribas Fund Services Australasia Pty Ltd (BPFSA) operates in New Zealand. BPFSA is an Australian incorporated company which is registered with the New Zealand Companies Office and also registered under the Financial Service Providers (Registration and Dispute Resolution) Act 2008.
