BNP Paribas is offering a post-trade service to banks and brokers looking to take advantage of a cross-trade agreement between the London Stock Exchange (LSE) and Singapore Exchange (SGX).
Under the agreement, LSE members are to trade shares on the International Board in the top 37 companies listed on the SGX, while SGX members will trade blue-chip, FTSE 100 stocks in the first half of 2013. LCH.Clearnet will provide clearing services for the cross-trade agreement.
"We are a local custodian in 25 markets clearing 2 million executions daily as a member of 11 clearing houses globally," says Philippe Ruault, global head of clearing and settlement at BNP Paribas Securities Services. "We have a long track record of simplifying complexity in the post-trade environment. This puts us in a strong position to help clients with their post-trade requirements, and to help exchanges with their international growth ambitions. We look forward to supporting the LSE and SGX in future initiatives."
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