Local Custody

What are the characteristics of SGSS’ local custody services?

While, in the digital age, many goods and services become virtual, asset managers, asset owners, corporates and banks still need on the ground, physical presence from their securities provider. In major markets it constitutes a high level of market expertise, increased asset safety and the ability to be the voice of the client in the market.

Overview

SGSS local custody operates one of the largest proprietary custody networks in the world and has a direct link to two International Central Securities Depositories (ICSDs): Euroclear and Clearstream.

SGSS is also expanding its range of services and solutions in response to increasing client demand for a fully integrated package.

In parallel, SGSS is strengthening its core custody solutions - spanning numerous projects, such as applying its single sign on web information and transaction tool – SG Markets – into frontier and emerging markets.

On a larger scale, one flagship project underway, is to implement a single pan-European platform for local and global custody, for SGSS’ main European processing hubs, delivering innovative harmonized service levels, whatever the client’s choice of booking location.

Key features and benefits

Gives access to the leading breadth and depth of the SGSS local custody footprint:

  • Largest network in Africa for a continental European Bank with 17 countries covered from four locations

  • Three SGSS servicing units in Central & Eastern Europe

  • Indian servicing unit as a result of a joint-venture with the State Bank of India

  • Servicing units in major Western European markets (France, Germany, Ireland, Italy, Luxembourg, Switzerland, Spain and the UK); with T2S connectivity, and the capability to offer settlement and asset servicing separately.

Secures asset safekeeping underpinned by the financial strength of SG as an ‘A’ rated leading European and universal bank

Gives the choice of contracting through a Master Custody services Agreement or directly with the local SGSS entity.

Ensures industry recognition of the quality of SGSS staff, systems and service delivery as attested by Global Custodian, Global Investor and Global Finance:

  •  Settlement flow management

  • Safekeeping of assets (including physical securities)

  • Cash management and foreign exchange

  • Flexible SGSS books and CSD level securities account management / asset segregation

  • Income and corporate action event: pre-notification and notification, instruction processing, receivables management and reporting

  • Company meeting notifications and proxy voting services delivered by SGSS and/or in association with Broadridge: SGSS facilitates shareholder voting during GM in accordance with the ESG commitments defined thanks to the voting instruction routing offer. Find out more about our ESG solutions.

  • Withholding tax management including relief at source and/or tax reclaim management (as applicable according to double-taxation treaties and local regulations)

  • Agility and capacity to produce customized reporting – including transaction reporting, Management Information System (MIS) and Key Performance Indicators (KPIs)

  • Timely and accurate delivery of market news, knowledge and insight via our on-line services and email communication.

Provides a strong understanding of local markets with the integration of SGSS within the local facility of Societe Generale enabling SGSS to leverage the local support functions and infrastructure and gaining access to the market authorities as a “local” bank.

Provides SGSS' organisational model, global expertise and solutions of a business involving 4,000 employees.

Enables the management, control and pilot of operations through SG Markets, SGSS 24/7 transactional and secure information web portal.

General Conditions of use of our services:

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