BNPP Securities Services and CACEIS Combine Issuer Services

Bats-Direct Edge Complete Merger

BNP Paribas Securities Services and CACEIS have signed a draft agreement to combine their issuer services in a joint venture owned equally by the two banks.

The two groups intend to create a leading provider of services to share issuers. This would cover operational services such as shareholder recordkeeping, organising and centralising general meetings, setting-up and centralising financial operations, and managing employee shareholding plans.

This partnership would mark an important step in the development of services to corporate clients, allowing BNP Paribas Securities Services and CACEIS to pool their investments and offer this clientele a renewed and enhanced service offer.

Patrick Colle, General Manager of BNP Paribas Securities Services, said: “We are delighted with this plan to join forces with CACEIS to create a leading service provider dedicated to share issuers. In a complex and constantly changing environment, securities issuers need evolving services. This ambitious project underlines our commitment to our issuer clients.”

Jean-François Abadie, Chief Executive Officer of CACEIS, commented: “This agreement illustrates our ability to develop strong industrial partnerships allowing the creation of leaders in our business lines. Our joint venture with BNP Paribas Securities Services will create a major player in issuer services and provide clients with a broad range of products meeting the highest market standards.”

The transaction is scheduled to complete at the end of 2022 subject to the required consultations, and the authorisation of the various competition and regulatory authorities. Issuer services will continue to be provided separately by BNP Paribas Securities Services and CACEIS, until the operational start of the joint venture.

This draft agreement covers the specialised area of ​​issuer services. Other service offerings of BNP Paribas Securities Services and CACEIS are not affected.

Source: BNP Paribas

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