BNP Paribas closer to US securities market
BNP Paribas Securities Services has become a direct securities participant in the Federal Reserve through FedLine, an online financial services information and payment service of the Federal Reserve, and has selected Torstone Technology's system to connect.
This would offer its clients an opportunity to grow in the US fixed income securities market and benefit them from first-hand information on income events and improved settlement turnaround, , according to BNP Paribas.
Additionally, this development would help clients protect securities margin and collateral movements.
To obtain direct access to FedLine as a local custodian of Federal Reserve-issued securities, BNP has selected Torstone Technology's post-trade securities and derivatives processing system, Inferno.
BNP Paribas Securities Services head of custody and clearing services Americas, Bruno Campenon, said: "This demonstrates once again our commitment to the US market and will benefit all our client segments. Torstone's Inferno technology provides us with fast and agile connectivity to the Federal Reserve".
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