BNP Paribas Securities Services has expanded its global dealing services solution to include the Australian market, targeting super funds with in-house investment capabilities.
The company decision to launch dealing services in the country was triggered by robust demand for outsourced services from superannuation funds, which are making their own investments. BNP Paribas Australia & New Zealand has secured regulatory approvals to operate in Australia.
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According to Financial Standard, the company is currently discussing prospects with several prospective clients, which range from small- to medium-sized asset managers. The new dealing services will enable the assets manager to save on the cost of outsourcing.
Additionally, it will also assist the super funds to start their own in-house investment management capability.
The company’s dealing services are available in Europe and Hong Kong and enable its clients to access to a platform with specialized dealers, asset managers and asset owners with in-house fund management capabilities. The solutions can be tailored for a specific asset class or market only. They can also be offered as stand-alone or within a suite of custody services.
Pierre Jond, managing director with BNP Paribas Australia & New Zealand, said: "No two propositions are exactly the same because the service can be tailored to suit each clients’ needs. It saves asset managers having to employ two or three dedicated professionals and is generally suited to clients with low trading volumes or variable volumes.
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By GlobalData"Previously, alternative outsourced solutions required users to end their established broker relationships and the associated benefits while this offering allows clients to keep their existing broker panel."
