With the service now operational, the Bank's clients are benefiting from local clearing and custody for a range of asset classes including cash equities and corporate debt instruments.

The development is a major milestone in BNP Paribas Securities Services' strategy towards becoming a leading player in the fast-expanding Indian asset servicing market, and is a key extension of its global network.

Commenting on the development, Pierre-Alexandre Thome, Head of BNP Paribas Securities Services in Mumbai said "We are delighted to announce the launch of our local clearing and custody service in India, and see this as another important step forward in our commitment to the region.

"We think India is one of the most exciting and dynamic markets in the world, and we are pleased to extend the same high quality service to both domestic and off-shore investors here, as we do in the rest of the world."

By continuously improving its range of products and services across each of its locations as well as extending its local presence, BNP Paribas Securities Services aims to provide its clients with the same world-class solutions across the globe.