Liquidnet Outsources Asia Back-Office Services to BNP Paribas

The custodian bank will allow Liquidnet to support its growing equities business in the region by reducing manual processes and risk within its broker confirmation and custody areas, by offering third-party clearing and settlement, as well as assistance with record keeping.

“Through their offering, we are able to further improve operational efficiency and provide a smooth flow of post-trade processes and reporting to our clients in Asia under US regulations,” says Andrew Walton, COO of Liquidnet Asia-Pacific. “Liquidnet, with the help of BNP Paribas Securities Services, will be able to focus on our core business, which is connecting global investment managers to source block size liquidity opportunities across markets and continents.”

In order to adapt to international regulations Liquidnet will also mandate BNP Paribas' prime brokerage subsidiary to complement its Asia-Pacific service, and comply with US Securities and Exchange Commission (SEC) rules on derivatives clearing, trade reporting and new capital requirements.