BNP Paribas is setting its sights firmly on the Asia Pacific superannuation industry, with a number of new products set for release in the derivatives sector.
BNP Paribas Securities Services global chief executive Patrick Colle said the company would be targeting the asset owner segment with the introduction of third-party collateral management, the clearing of listed derivatives and the execution of derivatives to fill what he saw as a growing gap in the market.
“Following the crisis there is much higher demand for collateralisation of derivative transactions particularly on the buy side,” he said.
“It is not so prevalent in Asia right now, but it is prevalent in Europe and the US and we expect it will also come to Australia and Asia.”
Colle stated that the company would also be looking to open up its current global product offering to all markets, so as to allow clients to buy products that have been processed elsewhere.
“There has been a bias towards each local office pushing their own local products, rather than pushing the global product which has been processed elsewhere but is more beneficial for the client,” he said.
“In this way we will introduce clients to products that are relevant to them, even though they have not been processed in Australia.”
