BNP Paribas Securities Services expands to Beijing and in derivatives

The French firm continues to build its securities services business in Asia with a China office and a listed derivatives clearing licence in Singapore.

Yesterday BNP Paribas Securities Services formally opened a new office in Beijing and on Wednesday expanded its global listed derivatives clearing capability to Singapore.

Jing Zeng becomes China head of BNP Paribas Securities Services after two years running the BNP Paribas Securities Service's Asia programme as well as a stint in Europe.

She will report to Lawrence Au, regional head of Asia, and her team will comprise of relationship managers and business development professionals.

The new China branch will help the firm offer Chinese institutional investors asset-servicing and administrative solutions to enable their global investments. The opening follows office launches in Singapore, Hong Kong and India over the past two years.

Meanwhile, BNP Paribas Securities Services was admitted as a bank clearing member for listed derivatives on the Singapore Exchange (SGX). This follows the company obtaining clearing membership on India's National Stock Exchange in March last year, its first such licence in Asia.

"This is in line with our plans to offer an integrated service in custody and listed derivatives clearing in these exchanges," says Mohan Subramaniam, Asia-Pacific head of product and sales for listed derivatives in Singapore.

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