BNP Paribas Securities Services will provide clearing and custody services in Peru marking its latest venture into Latin America.
BNP Paribas launched its custody and clearing services in Brazil in 2010 and Columbia in 2013. The move to Peru brings the bank’s custody proprietary network to 26 markets.
As part of the move BNP will become a participant in Peru’s central securities depositary (CSD) Cavali.
“BNP Paribas Securities Services’ entry into Cavali represents an important milestone, which will contribute to the development of the Peruvian market,” said Víctor Sánchez, Cavali CEO.
BNP will now provide clients direct access to this CSD as well as provide international and regional investors with access to the Peruvian market.
“We are committed to the Latin American region where we have been expanding our network and developing a strong local know-how,” said Alvaro Camuñas, head of BNP Paribas Securities Services Spain and Latin America.
“Peru is an exciting addition to our global network and we look forward to continuing to partner with our clients in the region.”