BNP Paribas launches local clearing and custody in India

BNP Paribas securities services has launched its local clearing and custody service in India. With the service now operational, the bank’s clients can use local clearing and custody for a range of asset classes including cash equities and corporate debt instruments.

According to a company release, the development will help 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. BNP Paribas securities services is a wholly-owned subsidiary of the BNP Paribas Group.

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,” he added.