BNP Paribas launches local dealing desk

BNP Paribas Security Services (BNP Paribas) had expanded its global ‘Dealing Services' solution to asset managers and owners in Australia.

BNP Paribas said the service, which had previously been the domain of asset managers, was becoming increasingly significant to superannuation funds as they brought investment in-house and sought outsourced services including a dealing desk solution.

It said BNP Paribas' established platform and experienced specialist dealers could be utilised by super funds' in-house management capabilities.

"Previously, alternative outsourced solutions may have required users to end their established broker relationships — and the associated benefits, such as access to research and market news," said Pierre Jond, managing director for BNP Paribas in Australia and New Zealand.

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"This new offering allows clients to keep their existing broker panel, while improving dealing efficiency and cutting costs, making it a highly compelling proposition."

Natalie Floate, head of market and financing services at BNP Paribas for Asia-Pacific, said the solution could be implemented for a specific asset class or market only, and could be acquired as a standalone product or within a suite of custody services.

"Our dealers are neutral in their interactions with brokers, guaranteeing full alignment with clients' interests," she said.