BNP Paribas Securities Services today announced that it has been selected to provide clearing, settlement and custody services to Huatai Financial Holdings (Hong Kong) Limited (“Huatai Financial”).
As part of this mandate, BNP Paribas Securities Services supports Huatai Financial’s activity as a direct London Stock Exchange (LSE) member.
Huatai Financials’ ultimate parent, Huatai Securities Co. Ltd (601688.SH, 6886.HK and HTSC LI) is the first issuer using the Shanghai-London Stock Connect. In June, Huatai Securities raised USD 1.69 billion through the sale of global depository receipts (GDRs) in London on the Shanghai segment of the London Stock Exchange.
Using its extensive cross-border experience, BNP Paribas Securities Services supports Chinese financial institutions’ expansion plans across the world. With an extensive network and global reach covering more than 90 markets, BNP Paribas Securities Services will help Huatai Financial access international markets and support its regional and international growth ambitions.
“We selected BNP Paribas for its understanding and capability to support our international growth strategy. BNP Paribas’ expertise in both Shanghai and London, its relationships with the respective exchanges and understanding of the cross-border connect scheme, played a major part in our decision to partner with it. We are pleased to partner with one of the leading global custodians to support our international growth strategy,”
said Huatai Financial Holdings (Hong Kong).
Philippe Kerdoncuff, Head of BNP Paribas Securities Services China, said:
“We are delighted to support Huatai Securities and its subsidiaries in further strengthening its international business platform. It is another example of where BNP Paribas has been able to support an innovative client and its cross border ambitions.”
Stanislas Beneteau, UK Head of Financial Intermediaries and Corporates Client Line at BNP Paribas Securities Services, said:
“The Shanghai-London Stock Connect scheme is an important step for European and Chinese investors alike. We look forward to working with Huatai Securities group companies to help them meet their objectives.”
BNP Paribas Securities Services is a leading global custodian with USD 11.6 trillion in assets under custody[1]. BNP Paribas is the winner of the Best Custodian for Stock Connect[2] from The Asset Triple A Asian awards 2019, and Best Transaction Bank for Securities Services 2019 from The Banker[3].
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Press Contact:
Caroline Lumley caroline.lumley@uk.bnpparibas.com +44 (0)20 7410 4650
BNP Paribas Securities Services on Twitter – @BNPP2S
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 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.
[1] Source: As of 30 June 2019 (Source: BNP Paribas)
[2] Source: The Asset Triple A Asset Servicing, Institutional Investor and Insurance Awards 2019