BNP Paribas Securities Services, a global custodian with USD 13.4 trillion in assets under custody, today announces the launch of local custody services in Chile, expanding the bank’s proprietary network to 27 markets.
The move enables BNP Paribas Securities Services to provide international and regional investors with access to the Chilean market and adds to the bank’s presence in Latin America where it already offers local custody services in Brazil, Colombia and Peru.
As part of the launch, BNP Paribas Securities Services has become a direct participant in the Chilean central securities depository, Depósito Central de Valores, which will act as a tax agent in accordance with Chilean regulations.
BNP Paribas Securities Services’ offering in Chile includes settlement, safekeeping, corporate actions, proxy voting, cash management and FX, as well as all regulatory reporting.
Claudia Calderón, Head of BNP Paribas Securities Services in Hispanic LatAm, said:
“We are very pleased to be able to offer our broad portfolio of local custody services in Chile. Opening a new market is further proof of BNP Paribas’s commitment to the Latin America region. Our operating model, which has already proven successful in other countries in the region, offers a wide range of opportunities to non-resident investors in Chile.”
Javier Jara, Legal and Corporate issues managers, at Depósito Central de Valores, said:
“As a custodian in the local market, we are very pleased with our new tax agent service for foreign investors, which allows us to make Chile an even more attractive market for all investors.”
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About BNP Paribas Securities Services (securities.cib.bnpparibas)
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With local expertise in 36 countries and a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.
About Depósito Central de Valores S.A.
El Depósito Central de Valores S.A. (DCV) is the only central securities depositary in Chile. Established in March 1993, it provides settlement and custody services for a wide range of instruments, including mutual fund shares and shares, bank bonds, certificates of deposit, mortgage bills, public debts, corporate debts, debenture and treasury bills. CSD custody $364 billion and has more than 185 direct participants (banks, pension funds, life insurance companies and stock exchanges). It has a risk rating A+ according to Thomas Murray. For more information on the DCV please visit, https://www.dcv.cl.
The information contained within this document (‘information’) is believed to be reliable but BNP Paribas Securities Services does not warrant its completeness or accuracy. Opinions and estimates contained herein constitute BNP Paribas Securities Services’ judgment and are subject to change without notice. BNP Paribas Securities Services and its subsidiaries shall not be liable for any errors, omissions or opinions contained within this document. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. For the avoidance of doubt, any information contained within this document will not form an agreement between parties. Additional information is available on request.
BNP Paribas Securities Services is incorporated in France as a Partnership Limited by Shares and is authorised and supervised by the European Central Bank (ECB), the ACPR (Autorité de Contrôle Prudentiel et de Résolution) and the AMF (Autorité des Marchés Financiers).
BNP Paribas Securities Services London branch is authorised by the Prudential Regulation Authority with deemed permissions under the UK Temporary Permissions Regime. BNP Paribas Securities Services London branch is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website. BNP Paribas Securities Services London Branch is registered in England and Wales under number FC023666. Registered office in the UK: 10 Harewood Avenue, London NW1 6AA.
In the U.S., BNP Paribas Securities Services is a business line of BNP Paribas which is incorporated in France with limited liability. Services provided under this business line, including the services described in this document, if offered in the U.S., are offered through BNP Paribas acting through its New York Branch (which is duly authorized and licensed by the State of New York Department of Financial Services) or BNP Paribas Financial Services LLC, a limited liability company organized under the laws of the State of Delaware; if a securities product, through BNP Paribas Securities Corp. which is a broker-dealer registered with the Securities and Exchange Commission and a member of SIPC and the Financial Industry Regulatory Authority; or if a futures product through BNP Paribas Securities Corp., a Futures Commission Merchant registered with the Commodities Futures Trading Commission and a member of the National Futures Association.