SGSS Strengthens its Post-Trade Business with Liquidnet
SGSS in the UK has launched its Fixed Income offering - an extension of a new asset class for Liquidnet, an existing client, which marks a successful migration for the Global Broker Dealer Services (GBDS) franchise. Through this Fixed Income mandate, SGSS will expand its existing equities clearing and settlement agent service.
The offering was developed as part of SGSS's ongoing work with Accenture Post-Trade Processing (APTP), a strategic collaboration between Accenture and Broadridge Financial Solutions to provide post-trade processing and technology services.
An SGSS client since 2016, Liquidnet is the global institutional trading network where more than 920 of the world’s top asset managers and other like-minded investors come to execute their large trades with maximum anonymity and minimum market impact.
GBDS provides an end-to-end post-trade solution for mid-tier broker dealers to meet the challenges of regulatory change, IT and operational expenditure. It overlays traditional banking services – credit and financing - with global market coverage via a single-entry point and a single legal agreement service into the Societe Generale network.
“Following on from the successful transition of our EMEA Equity clearing to SGSS in 2016, we are pleased to grow this relationship by consolidating our clearing across both asset classes. SGSS’s commitment to offer a diverse range of services built through strong client engagement and service ethic, compliments Liquidnet’s desire to continue to provide a best in class experience for our Members,” comments Nadine Readie, Head of EMEA Trade Services at Liquidnet.
“We are delighted to be building on our existing relationship with Liquidnet for the provision of Fixed Income services. Liquidnet is a key client for our business and we are pleased that they have reinforced their trust and commitment to SGSS and GBDS. This deal also demonstrates the ongoing investment and our long-term commitment to the Securities Services business in the UK” comments Alex Krunic, Head of Sales & Relationship Management for GBDS.
“We are proud to continue to help SGSS GBDS expand their offering and provide settlement, asset servicing, reference data, books and records and administrative accounting services to their clients and Liquidnet,” said Dean Jayson, a Managing Director at Accenture and Global co-lead of Accenture Post-Trade Processing. “GBDS benefits from Accenture Post-Trade Processing’s market-proven technology, leading robotics, AI innovation and analytic solutions. Our services enable financial institutions to deliver top-level services to their clients at a competitive price, based on a highly efficient, mutualized post-trade industry utility.”
Accenture Post-Trade Processing (APTP)
Accenture Post-Trade Processing, a strategic collaboration between Accenture and Broadridge Financial Solutions, helps banks operating in Europe and Asia-Pacific reduce post-trade processing costs, adapt to new regulations and technology changes, and quickly and efficiently launch new products and enter new markets. The solution provides post-trade processing and technology services to support settlement, books and records, asset servicing, operational management and control, real-time data access and administrative accounting. Accenture Post-Trade Processing is set up to mutualize activities and costs from multiple institutions and adopts an innovative, streamlined operating model, which will help drive efficiency and quality of service.
Societe Generale Securities Services (SGSS)
Present in 27 locations worldwide, with 4000 employees, SGSS provides financial institutions and brokers, asset managers and insurers, and businesses with a full range of securities services adapted to the latest financial market and regulatory trends: clearing services, custody and trustee services, retail custody services, liquidity management, fund administration and asset servicing, fund distribution and global issuer services.
SGSS is among the top 10 global custodians and the second largest European custodian, with EUR 4,013* billion of assets under custody. SGSS provides custody and trustee services for 3,571* funds and the valuation of 4,118* funds, representing assets under administration of EUR 646* billion. SGSS also ranks among the European leaders in stock option management.
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*Figures at end of March 2018