BCS Financial Group Expands Settlement Capabilities with Euroclear

BCS will help to expand the scope of its product offering, streamlining several segments of its settlement.
Photo: Bloomberg

BCS Financial Group has gained access to Euroclear, one of the world’s paramount international central securities depositories, via its subsidiary, BCS Prime Brokerage Limited.

Through the new integration with Euroclear, BCS Financial Group will help augment the latitude of its product offering, thereby streamlining several segments of its operational efficiency, risks management, trading costs, settlement, and custody services.

In addition, BCS has unveiled its intent to gain broader access to Euroclear’s services in the European, UK (London Stock Exchange), American, and Russian markets, albeit relegated to local equities and government bonds.

According to Michael Barmettler, COO of Global Markets and Investment Banking at BCS Financial Group, in a recent statement on the new accord with Euroclear, “This is another significant milestone for BCS, proving the stability and continuity of our national and international business and allowing us to further follow our growth strategy.”

“We are always looking to develop and further expand our offering for clients. The Euroclear facilities broaden our transaction, settlement and custody services in a quick and cost efficient way. It helps reducing our risks, optimizing our cash and collateral management and further automating operations,” he added.

“The Euroclear membership is one of a number of building blocks BCS will put in place over the coming months. The membership approval proves our sustainable business strategy and allows further international expansion. We have managed to strengthen our business despite the difficult market conditions in 2014,” noted Tim Bevan, CEO of BCS Prime Brokerage, in an accompanying statement.

Earlier this month, BCS Global Markets (BCS), an international arm of BCS Financial Group, appointed Adam Wood as its Director of its Prime Brokerage Sales team in the UK. In his new role as Director at BCS Global Markets, Mr. Wood is working with high frequency traders and proprietary trading firms with a penchant for arbitrage and hedge funds across the UK, Europe, and the US.

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