BNP Paribas Securities Services rolls out intraday bank liquidity reporting tool
BNP Paribas Securities Services has launched a reporting tool for investment banks, which it says will help them cope with tough new financial regulations by better monitoring their intraday liquidity.
The French bank’s new service allows BNP Paribas to deliver customised reports on cash account balances globally using its NeoLink web portal. From launch, reports on intra-day and end of day balances on multiple accounts will be delivered at pre-set times of day to specified recipients at the client firm.
The bank emphasised that the new service is intended to help its customers deal with new regulations including EMIR and Dodd-Frank in Europe and the US respectively.
The reforms to OTC derivatives essentially aim to shift liquidity towards centrally cleared and reported venues and away from the bilateral market. These changes, coupled with increased margin requirements for remaining bilateral trades, will increase demand for collateral.
BNP Paribas says that these changes will make it more likely that clients will need to manage liquidity on an intraday basis. The bank added that it will continue to rollout further services depending on the shape that the new regulation takes as it is implemented over the course of 2014 and 2015.
“Regulatory preparedness is a key concern for our clients,” said Beatrice Le Terrec, head of business development for market and financing services at BNP Paribas Securities Services. “The current environment of change puts an increasing demand on them to manage their liquidity tightly. As such we have seen more request for tools to provide our clients an ever clearer view of their assets and to optimise their cash management. With this new service we can help them manage their cash accounts on an intraday basis and optimise their liquidity use.”
In June last year, BNP Paribas Securities Services launched Collateral Access, a collateral management system built both for buy-side and sell-side clients – a tool which was also ultimately inspired by EMIR and Dodd-Frank. Collateral Access was all about helping clients to find high grade collateral to meet the industry reforms to OTC derivatives trading.