BNP Paribas Securities Services has extended its third-party automated FX service to continental Europe, as outlined in a company press release.
La Financière de l’Échiquier is the first client in France to use the solution, covering 40 funds. The mandate adds to an existing relationship spanning custody, depositary, middle-office and clearing services.
The service is designed for clients with assets held across multiple custodians, allowing FX execution to be handled through a single automated process. It covers 61 currencies and is based on BNP Paribas’ Global Markets FX platform.
The solution had previously been available in APAC, the UK and the US, and is now being extended to continental Europe.
Operational impact
The client points to changes in processing and risk management. “This comprehensive solution covering all activities and instruments enables us to streamline operations while significantly reducing operational risk,” says Elsa Scoury, general secretary at La Financière de l’Échiquier.
BNP Paribas describes the rollout as part of a broader expansion of its FX offering to clients operating across multiple custodians.
