GPP, the clearing, institutional custody and wealth solutions firm, has announced Societe Generale Securities Services (SGSS) through its subsidiary PAREL as a settlement agent for its clearing business.
The partnership will see the French bank’s Securities Services arm join GPP’s settlement infrastructure alongside GPP’s other agents and its own direct Crest participation. The SGSS partnership will enhance access for GPP’s institutional broker-dealer and proprietary trading firm clients to global markets.
GPP is the leading alternative clearing and institutional custody provider and its clients are able to access settlement and custody services via GPP’s proprietary back office technology and operations platform, Global Back Office. Established in 2008, GPP’s business model offers. clear scale benefits and tailored service excellence across its extensive client base. SGSS provides an end-to-end post-trade solution for mid-tier broker dealers to meet the challenges of the regulatory environment, IT and operational expenditure. SGSS supports clearing and settlement with global market coverage via a single-entry point into the Societe Generale network of over 80 markets.
Through this new arrangement, GPP’s clients will have access to SGSS’ first class settlement network, boosting international market connectivity and diversifying the range of end service providers.
Julian Parker, Chief Executive Officer, GPP: “This appointment highlights our ongoing commitment to offering our clients unrivalled service and value across major global markets, at a time when our international client base is expanding rapidly. By adding SGSS to our roster of end service providers, we are broadening access for our clients to the industry’s leading clearing and institutional custody services and reinforcing our position as the go-to alternative clearing provider.”
Emmanuel de Cherisey, Chief Executive Officer, PAREL: “We are delighted to welcome GPP as a client. As a well-known firm within the UK broker and wealth management communities, this partnership with GPP is a significant step for our broker dealer franchise and a clear statement of our commitment to our clients. We look forward to supporting GPP and their ambition for growth.”
Anthony Cornwell/ Matt Jones – +44 020 3697 4200 – [email protected]
London: Clare Milton – +44 2075973284 – [email protected]
GPP is a multi-award-winning financial services firm that provides execution, clearing and custody services to broker-dealers, asset and wealth managers, family offices and professional traders. Clients are able to access the global financial markets via GPP’s multi-asset class trading platform, which provides trade execution, margin financing, securities lending, clearing and custody services. GPP prides itself on providing state-of-the-art technology and an institutional strength operational infrastructure, with a focus on tailored client service.
Societe Generale Securities Services (SGSS)
Present in 26 locations worldwide, with 4,000 employees, SGSS provides financial institutions and brokers, asset managers and insurers, and businesses with a full range of securities services adapted to the latest financial market and regulatory trends: clearing services, custody and trustee services, retail custody services, liquidity management, fund administration and asset servicing, fund distribution and global issuer services.
SGSS is among the top 10 global custodians and the second largest European custodian, with EUR 4,327* billion of assets under custody. SGSS provides custody and trustee services for 3,291* funds and the valuation of 4,324* funds, representing assets under administration of EUR 613* billion. SGSS also ranks among the European leaders in stock option management.
For further information, follow the @SG_SS Twitter account or go to https://www.securitiesservices.societegenerale.com
*Data at end-September 2020