BNPP Securities Services Rolls Out Automated FX Solution to Europe

BNP Paribas’ securities services business has extended its multi-custodian third-party automated FX services to continental Europe with asset manager La Financìère de L’Échiquier the first client to roll it out across its 40 French funds.

The mandate builds on an existing relationship between the bank and the asset manager, which has EUR 28 billion in AUM, currently it provides depositary services, middle-office trade support, custody, transfer agency and derivatives clearing.

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.

“BNP Paribas’ automated FX solution delivers on our requirements for value-creation, simplicity, speed, and risk mitigation,” explains Elsa Scoury, general secretary at La Financière de l’Échiquier. “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.”

Jérôme Bernodat, head of managed FX and overlay solutions business development, for Global Markets at BNP Paribas, adds, “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.”