SubCustodian

BNP Paribas continues to build on its exceptional securities-services franchise through internal initiatives and partnerships that leverage technology for growth across its platform. With this progress, the bank is recognized as our regional winner for Western Europe. In the region, BNP Paribas is also our country winner in Belgium, France, the Netherlands, and Switzerland.

One of the bank’s service initiatives includes the development of open architecture strategy designed to integrate client-portfolio management systems with the bank’s middle- and back-office services. The offering enables direct and standardized data connectivity between BNP’s global fund-accounting systems and Bloomberg Asset and Investment Manager. This connectivity delivers greater transparency along the transaction lifecycle, with real-time post-trade workflows and faster data availability.

In addition, the bank launched a new post-trade data-management service using offerings from financial data technology provider NeoXam. This provides greater transparency, allowing clients to view securities portfolios across different asset classes and includes performance and risk analytics as well as reporting features.

At the same time, BNP clients benefit from the bank’s NeoLink digital custody platform that delivers a complete, simple, and customizable range of services. BNP recently enhanced the system’s reporting capabilities, allowing users to manage data and reports. The bank has also expanded its centralized booking model, enabling clients to engage with a single legal entity in the Paris office for services across multiple markets, with access to seven European CSDs.

Under this structure, client accounts are segregated based on the market but are linked to a single cash account for efficient settlement. In every country BNP serves, it works with regulators on market developments to both advance the custody infrastructure and advocate for clients in these jurisdictions. With the move to a T+1 settlement cycle in the EU, BNP is committed to a seamless transition for the industry and the bank’s clients by serving as an active member of the EU industry task force on T+1 implementation.

Methodology

In selecting the institutions that reliably provide the best services in these local markets and regions, Global Finance’s editorial board considered market research, input from expert sources, and entry information from the banks themselves. The criteria included such factors as customer relations, quality of service, technology platforms, and post-settlement operations, as well as knowledge of local markets, regulations, and practices.

UniCredit continues to demonstrate industry leadership in Central and Eastern Europe (CEE) through an extensive franchise that offers comprehensive services and deep local-market knowledge. The bank’s client-centric approach emphasizes tailored post-trade solutions, process efficiency through high levels of automation, strong operational risk management, and market advocacy to address new regulations. With this approach, the bank is building on its strong position in each of its markets, experiencing consistent growth in assets under custody, revenue from existing customers, and new client mandates. Reflecting this progress, UniCredit is also the country winner in Bosnia and Herzegovina, Bulgaria, and Hungary.

A key element of the bank’s success lies in its service model. Across UniCredit’s franchise, it offers two service options: The bank’s direct-servicing model provides market access and transaction execution in its 10 CEE markets. With the bank’s hub and spoke model in Austria, clients benefit from a single counterparty relationship for efficiencies with documentation and due diligence, as well as a dedicated relationship manager.

Ongoing technology advancement involves upgrading UniCredit’s TCS BaNCS custody system in eight markets, and launching a data-aggregation platform for greater access throughout the franchise to improve services addressing changes in local regulatory landscapes. Improving efficiency is one of the most critical components of the post-trade process. UniCredit has made enhancements in straight-through processing of transactions. These enhancements leverage automation and artificial intelligence (AI) to streamline workflows, reducing manual intervention and errors, for faster processing and improved client service.

Additionally, the bank is developing more-effective digital client platforms to provide real-time access to portfolio transactions, with analytics and custom reporting. With UniCredit’s extensive tenure and expertise in the region, it is an advocate for its clients on regulatory and market developments. The bank is also a powerful resource for peers and regulators across its franchise and has contributed to advancements and efficiencies with the market infrastructure in areas including reduced settlement cycles, taxation, corporate actions, and proxy voting.

Methodology

In selecting the institutions that reliably provide the best services in these local markets and regions, Global Finance’s editorial board considered market research, input from expert sources, and entry information from the banks themselves. The criteria included such factors as customer relations, quality of service, technology platforms, and post-settlement operations, as well as knowledge of local markets, regulations, and practices.