CME Clearing Names BNP Paribas an Approved Custodian
French bank will serve as a custodian for CME Clearing for US Treasury and federal agency securities.
The French bank can now act as a custodian for CME Clearing for US Treasury and federal agency securities.
Bruno Campenon, Americas head of custody and clearing services for BNP Paribas Securities Services, spoke about the announcement and the overall state of the custodian business on the Waters Wavelength podcast. You can listen to the entire episode here.
BNP Paribas first launched its local custody business in the US in 2012. In May, Claudine Gallagher, North American regional head of securities services for BNP Paribas, spoke to WatersTechnology about the bank's growth plans in the US.
"We're pleased to welcome BNP Paribas as a custodian in the United States. With the addition of BNP Paribas, CME Group provides greater diversity of custodians to our global clearing members and clients to support their collateral management needs at CME Clearing," said Sunil Cutinho, president of CME Clearing, in a statement.
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