BNP Paribas today announced that it has been selected to provide global trade processing services to ViewTrade Securities, Inc. (‘ViewTrade’).
BNP Paribas will provide ViewTrade with correspondent clearing and custody services through its US-registered broker dealer BNP Paribas Securities Corp. In addition, ViewTrade will benefit from access to BNP Paribas’ clearing and custody services network in more than 80 countries. This is a key strategic advantage considering ViewTrade’s growing client base in Europe, the Middle East, Asia and South America.
“After conducting a thorough evaluation of the market for correspondent clearing and custody service providers, BNP Paribas emerged as the outstanding choice based on its superior service offering, expertise and overall ability to meet our needs” said James StClair, President and Co-Founder of ViewTrade.
“We are enthusiastic about exploring the joint opportunities that the BNP Paribas relationship presents to both our firm and to our global clientele” added Robert Dombrowski, Co-Founder of ViewTrade.
Christina Feicht, BNP Paribas’ Head of Securities Services North America added: “BNP Paribas is excited to have been appointed by ViewTrade to provide correspondent clearing services in the United States. Clearing is one of our flagship products and I am pleased that this is increasingly being recognised”.
ViewTrade Securities, Inc. is a US-registered broker dealer currently servicing more than 70 major financial institutions worldwide, representing more than one million online customers. These firms include some of the largest institutions in their domestic markets.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the six strongest banks in the world* and the largest bank in the eurozone by deposits. With a presence in more than 80 countries and more than 200,000 employees, including 160,000 in Europe, BNP Paribas is a leading European provider of financial services on a worldwide scale. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Retail Banking, the Group has four domestic markets: Belgium, France, Italy and Luxembourg. BNP Paribas is rolling out its integrated model across the Europe-Mediterranean zone and boasts a large network in the United States. BNP Paribas Personal Finance is the leader in consumer lending in Europe. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe and solid and fast-growing businesses in Asia.
BNP Paribas CIB holds leading positions in several markets (trade finance, export credit, project financing, acquisition finance, equity and debt capital markets and EUR-denominated bond issues) and is amongst the top 10 advisory banks in Europe in the mergers & acquisitions market. BNP Paribas is also one of the top banks in Europe with corporate customers thanks to its unique network of over 100 business centres in 20 countries.
* Rated AA by Standard & Poor’s i.e. 3rd rating level on a scale of 22.
About BNP Paribas Securities Services
BNP Paribas Securities Services is a wholly-owned subsidiary of the BNP Paribas Group, delivering flexibility and commitment, backed by the strength of a leading universal bank.
Operating across the investment cycle, we provide post-trade administration solutions to buy-side and sell-side financial institutions and issuers. The Bank has a local presence across 32 countries and global coverage of over 100 markets, offering a one-stop shop for all asset classes, both onshore and offshore, across the globe.
With USD 6,237 billion of assets under custody, USD 1,026 billion assets under administration and over 6,000 funds administered as at 30 September 2010, BNP Paribas Securities Services is Europe’s leading securities services provider and number 5 worldwide.
Ilias Catsaros, Group Press Office, Paris +33 (0) 1 43 16 82 04
Lilias Martin, Corporate Communications, Securities Services +44 (0) 7584 408 428
Andrew Achimu, Corporate Communications, Securities Services +44 (0) 7557 114 007
Carole Butcher, Corporate Communications, BNP Paribas London +44 (0) 207 595 4653
Lilian Kung, Brand & Communications, North and East Asia +852 2909 8849