[VIDEO] Entitling your broker to issue settlement instructions to your custodian, on your behalf, could save you headaches. At least that is what BNP Paribas’ Gary O’Brien proposed to the audience of PostTrade 360° Helsinki on Wednesday.
Integrated execution and asset servicing has traditionally been a focused solution for US investments by retail clients. Gary O’Brien looked into how this is evolving with greater global focus on costs, and to what degree an integrated solution can comply with best execution needs.
“Broker to custody” is the term that Gary O’Brien uses to sum up the idea of bringing trade execution and settlement processes into the same house. One of the advantages he foresees is a smaller number of settlement fails. When your custodian and broker are accustomed to working together more regularly, their chances of straight-through-processing should increase.
Gary O’Brien is Head of Bank and Broker Segment Strategy, BNP Paribas Securities Services. A three-page article that lines out his thoughts is in the event magazine (starting on page 9).
• News from the PostTrade 360° Helsinki event is gathered here.
• The 32-page pdf magazine, which includes the agenda, can be downloaded by clicking here.
• For a 3-page breakout of the agenda section, click here.
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