December 24th 2012 - Singapore Exchange (SGX) today said BNP Paribas Securities Services SCA has joined its securities market as a Clearing Member.

“We are delighted that BNP Paribas Securities Services SCA has become our securities Clearing Member. With its strong global client network and infrastructure, BNP Paribas Securities Services SCA brings to the marketplace a wider choice of clearing and settlement services, supporting SGX’s position as the Asian Gateway.” said Mr Chew Sutat, Head of Sales & Clients at SGX.

“We are excited to be accepted as a Bank Clearing Member of CDP which will allow us to extend our award winning clearing services to the Singapore market. This new development supports our stated strategy to expand our product suite in Asia Pacific and demonstrates our commitment to the region. We look forward to providing our innovative clearing services to market participants, while further promoting the Singapore market to our worldwide client base,” said Mr Bruno Campenon, Head of Clearing, Custody and Settlement Product Management in Asia Pacific at BNP Paribas Securities Services SCA.

The addition of BNP Paribas Securities Services SCA. brings the number of Clearing Members in the securities market to 27. The securities market also has 27 Trading Members. Separately, the derivatives market has 42 Trading Members and 26 Clearing Members. SGX AsiaClear, the OTC derivatives clearing unit, has 11 Clearing Members for the clearing of OTC financial derivatives.

Re-disseminated by The Asian Banker