Clearstream and BNP Paribas create custody link to Colombia
Clearstream is at an advanced stage of establishing a new domestic custody link to Colombia in partnership with BNP Paribas Securities Services as its local sub-custodian. The new service is anticipated to launch in the second half of 2016.
The link enables Clearstream’s customers to settle against payment trades in local currency through BNP Paribas Securities Services Colombia's direct access to the market’s central securities depositories, Deceval (for equities and corporate debt) and DCV (government debt). The link enhances Clearstream’s service offering in Latin America, where it is already active in Argentina, Brazil, Mexico and Uruguay. Clearstream also provides cash services in Peru.
Philip Brown, Co-CEO of Clearstream Banking Luxembourg said: “The establishment of this new link is the result of a fruitful collaboration with BNP Paribas Securities Services, with whom Clearstream has long standing custody and service relationships. The new partnership strengthens Clearstream’s position as a leading provider for post-trade services worldwide and opens new investment opportunities in Latin America.”
Alvaro Camunas, Head of Spain & Latin America at BNP Paribas Securities Services, said: “We are delighted to bring our expertise to Clearstream for the launch of their new domestic custody link to Colombia. We have been offering local custody and settlement services in Colombia since 2013 and have developed a strong local know how in the country. Investors are showing increasing interest in Latin America and we are committed to helping foster the growth of local financial markets.”
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