BNP Paribas Securities Services, one of the divisions of BNP Paribas India, has announced that it has been granted a custody licence by the Securities and Exchange Board of India. With this licence, BNP Paribas Securities Services now offers clients local custody operations in the Indian market in addition to the listed derivatives clearing services it already provides from its Mumbai office.

Commenting on the licence, Pierre-Alexandre Thome, head of BNP Paribas Securities Services in Mumbai, says: “We are delighted to be granted this licence as it marks another important step in our development in Asia-Pacific, further strengthening our footprint in the region. We now have even greater strength in supporting our clients’ growth ambitions in India and giving them access to our fully integrated and personalised clearing and custody solutions.”

As part of its strategic development in India, BNP Paribas Securities Services SA has also partnered with Sundaram Business Services operating two joint-ventures from Chennai:

• Sundaram BNP Paribas Fund Services delivers fund administration and fund services to Indian Asset Managers and Institutional Investors;
• BNP Paribas Sundaram Global Securities Operations does transaction processing and middle-office operations, a platform to support Asia-based BNP Paribas Securities Services’ locations.

By continuously improving its range of products and services across each of its locations as well as extending its local presence, BNP Paribas Securities Services aims to provide its clients with the same world-class solutions across the globe.