18 July 2018
Visit www.avoka.com

BNP Paribas takes minority stake in Natixis securities clearing unit

17 July 2007  |  6551 views  |  0 BNP Paribas takes minority stake in Natixis securities clearing unit

BNP Paribas has signed an agreement to acquire a minority 33.4% stake in SLIB, the securities clearing operations of French bank Natixis. Financial terms of the deal were not disclosed.

SLIB specialises in providing securities services and offers its clients negotiation, clearing, settlement and custody services in France and abroad.

Commenting on the move Alain Pochet, head of banking operations for BNP Paribas' securities services division, says having SLIB as strategic partner "will enable us to expand our services range, particularly in the fields of back-office outsourcing to financial intermediaries and clearing risk management".

"This agreement also falls within the framework of the MiFID implementation and as such will adhere to the surrounding regulatory and operational challenges, a fact that will strengthen BNP Paribas' position among the main suppliers of clearing services in contact with the new multilateral trading platforms," adds Pochet.

In June, BNP Paribas Securities Services successfully processed and settled its first trades as a general clearing participant on the Instinet Chi-X ATS.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

BNP Paribas buys into Turquoise

BNP Paribas buys into Turquoise

06 July 2007  |  9904 views  |  0 comments
Top banks sign for Boat trade reporting platform

Top banks sign for Boat trade reporting platform

07 June 2007  |  12813 views  |  0 comments
BNP Paribas creates 370 new jobs in Scotland

BNP Paribas creates 370 new jobs in Scotland

01 June 2007  |  8295 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit https://secure.vasco.comVisit http://go.jumio.com/finextraAdVisit info.nice.com

Top topics

Most viewed Most shared
Metro Bank opens developer portalMetro Bank opens developer portal
9777 views comments | 5 tweets | 14 linkedin
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
9497 views comments | 3 tweets | 7 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
9325 views comments | 6 tweets | 15 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
8543 views 19 comments | 14 tweets | 30 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
8024 views comments | 1 tweets | 5 linkedin

Featured job

Find your next job