BNP Paribas pockets Peel Hunt clearing mandate
London-based broker Peel Hunt has picked BNP Paribas as its international clearing and settlement provider.
The deal, announced on Tuesday, will see the French bank provide a single solution for clearing and settlement services to the mid-cap broker in more than 100 markets.
BNP Paribas will also offer various risk capabilities as part of the deal, including a view of risk across all activities to aid collateral optimisation.
Peel Hunt’s chief financial officer Sunil Dhall said the service provides a “harmonised clearing offering” for all trading venues and a “tailor made set-up” that meets the firm’s needs.
Julien Kasparian, UK head of relationship management for banks and brokers at BNP Paribas Securities Services, said: “Thanks to our multi-local model, Peel Hunt will benefit from the efficiencies of a centralised set-up combined with local market expertise and client support.”
No financial terms were disclosed.
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