BNP Paribas’ US Correspondent Clearing Service was selected for this award from a number of industry competitors based on its ability to demonstrate thought leadership as a means of creating value for its broker-dealer clients.
As part of its marketing efforts in 2012, BNP Paribas’ Securities Services division hosted a series of events in North America aimed at increasing their clients’ awareness and understanding of regulatory and economic issues driving change in the industry. Regulations like Dodd-Frank and an overview of the financial markets in Latin America were particularly hot topics for this segment.
A panel of independent judges determined the winners based on the level of innovation, client satisfaction, and positive impact on the market each firm demonstrated.
Commenting on the win, Claudine Gallagher, regional head of North America for Securities Services, said, “Our ability to service the broker-dealer segment is paramount to our global success. This award is just one illustration of our investment in the US Correspondent Clearing product. We have so much in store for the enhancement of this product in the future.”
In an ever-changing competitive business environment, the firm’s US Correspondent Clearing Service aims to provide innovative solutions to support client needs, both globally and locally. Launched in 2006, US Correspondent Clearing Services will soon enhance its clearing platform by merging with the Group’s Prime Brokerage platform.
Clients will benefit from an improved infrastructure, including enhanced risk controls, real-time reporting and other web tools to help them manage clearing activity. This new era of US Correspondent Clearing will enable BNP Paribas to continue to service mid-tier broker-dealers and to attract larger US broker-dealers.