BNP Paribas Securities Services, one of the world’s leading providers of clearing and custody services, has partnered with industry-leading fintech company Calypso Technology to provide investment banks with a full, end-to-end post-trade services offering across asset classes.
As part of this partnership, BNP Paribas Securities Services will combine Calypso’s integrated front-to-back architecture with its own extensive post-trade servicing capabilities to build a new global, multi-asset class operating model for its investment bank clients.
Using Calypso’s platform, BNP Paribas Securities Services will be able to handle investment banks’ post-trade needs, from clearing and custody services to middle office services - including confirmations, fees and commission management, and P&L reporting - and back office services - including static data management, accounting, regulatory reporting, asset servicing, and standing settlement instructions.
Calypso technology covers all asset classes, enabling BNP Paribas Securities Services to service its clients’ post-trade requirements across equities, fixed income, cash equivalents, and commodity derivatives.
Alain Pochet, Head of Clearing and Custody Services at BNP Paribas Securities Services, said: “This partnership comes as new regulatory requirements and the need to upgrade mature technology platforms are increasing our clients’ operating costs and prompting them to outsource post-trade functions. This is a growing trend.
“We now provide a full, end-to-end post-trade service offering integrating middle, back office, clearing and custody services. By using one provider for all their post-trade needs, our clients will be able to better manage their costs and risks. They will also be able to extend their product range without having to bear development costs alone.
“With this new platform backed by Calypso our clients will benefit from a cutting-edge, market-led technology that is continuously enhanced to meet the changing needs of our clients.”
Pascal Xatart, Chief Executive Officer at Calypso, said: “This alliance reflects the seismic change that is taking place in the capital markets. Improvements in SaaS technology have given banks a legitimate alternative to the status quo, and the benefits of working with a back office utility provider are substantial - reduced costs, decreased IT support, and simplified operations. Solutions like this one are exactly what the market needs and are consistent with the Calypso SaaS strategy.”
Corinne Grillet, Chief Customer Officer at Calypso, said: “The synergies in this partnership are ideal - our firms complement one another extremely well. BNP Paribas Securities Services has a distinguished track record providing premier client service and operational excellence, while we have been delivering innovative technology solutions for nearly two decades. We continue to invest aggressively in Calypso SaaS Services as well as in our award-winning trading platform.”