Swissquote – a Switzerland-based banking group specialising in online financial and trading services – has mandated BNP Paribas to provide execution-to-custody services as it seeks to reduce client risk, simplify workflows and increase operational efficiency.
Bruno Campenon
The agreement expands the existing relationship between the two firms, including execution for cash equity services. With the expansion, Swissquote will be able to execute trades via BNP Paribas and other participating brokers across different markets with a single instruction. Doing so will streamline and automate trade workflow, from execution to settlement.
In addition, BNP Paribas’ securities services business has been mandated by Swissquote to provide global and local custody services.
Bruno Campenon, head of the financial institutions and corporates client line, securities services at BNP Paribas, stated: “We are proud to expand our partnership with Swissquote, bringing them the full benefits of our execution-to-custody platform.
“Our highly integrated services enable enhanced automation and risk mitigation for the benefit of our clients, which is all the more crucial to ease their transition to shortened settlement cycles in a T+1 world.”
Specifically, Swissquote is leveraging the BNP Paribas cutting-edge Cortex Equities platform, as well as their advanced execution services as it seeks to enhance its service offerings.
“Through integration with BNP Paribas’ custody solution and their execution-to-custody setup, Swissquote simplifies trade workflows, achieves operational efficiency, and reduces risk for its clients, showcasing its commitment to delivering value and innovation to investors,” explained Manuel Mache, head of business operations at Swissquote.