BNP Paribas’ Securities Services business, a leading global custodian with USD 16.7 trillion in assets under custody¹, announces the extension of its multi-custodian third-party Automated FX services to continental Europe. This fully automated, multi-currency solution is designed to enhance FX execution efficiency for institutional clients. La Financière de l’Échiquier, a leading European conviction-driven asset manager with EUR 28 billion in assets under management, is the first client in France to benefit from the bank’s third-party FX solution, covering all 40 of its French funds.

This new mandate strengthens BNP Paribas’ 20-year partnership with La Financière de l’Échiquier, complementing the suite of services already delivered by the bank, including depositary bank, middle-office trade support, custody, transfer agency and derivatives clearing.

Leveraging the advanced international FX platform of BNP Paribas’ Global Markets business line, alongside the multi-local expertise of Securities Services’ teams, the Automated FX solution covers 61 currencies and enables the bank to provide FX services to clients with assets held by multiple custodians. In addition to APAC, the UK, and the US, the solution is now extended to clients based in continental Europe whose accounts are held with other custodians.

Elsa Scoury, General Secretary at La Financière de l’Échiquier, commented: “BNP Paribas’ Automated FX solution delivers on our requirements for value-creation, simplicity, speed, and risk mitigation. Its implementation, executed with expertise and precision, met all deadlines without compromise. This comprehensive solution covering all activities and instruments enables us to streamline operations while significantly reducing operational risk. A transparent and high-performance partnership supporting our growth objectives.”

Pauline Bernard, Regional Head of France and Belgium, Securities Services, BNP Paribas, stated: “This mandate with our long-standing client La Financière de l’Échiquier underlines the strengths and global track record of our FX platform. We are confident that our third-party Automated FX solution, now expanded to continental Europe with its first client in France, will support La Financière de l’Échiquier in achieving optimum performance.”

Jérôme Bernodat, Head of Managed FX and Overlay Solutions Business Development, Global Markets, BNP Paribas, added: “Our FX solution underscores BNP Paribas’ strategic focus on delivering advanced technology, backed by our expert teams, to support our clients’ growth. Through our integrated banking model, we provide institutional clients with a custodian-agnostic end-to-end FX solution, combining efficiency, scalability, and the full strength of our global capabilities.”

Source: BNP Paribas