GPP appoints Societe Generale Securities Services as settlement agent
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.