BNP Paribas Securities Services has become a clearing member of Singapore Exchange's (SGX) derivatives market.

Following BNP Paribas’ admission, the SGX derivatives market now has 26 clearing members and 30 trading members while the SGX securities market has 26 clearing members and 26 trading members.

Gan Seow Ann, senior executive vice president and head of markets at SGX said: “We are pleased that BNP Paribas has joined our derivatives market as a Clearing Member, offering clearing services for our products to its diverse spectrum of global financial institutional clients. With this membership, market participants will benefit from a wider choice of clearing services.”

Arnaud Claudon, CEO of BNP Paribas Securities Services in Singapore, said: “We are delighted to be granted this membership by SGX. This important development further strengthens our listed derivatives offerings in the region, complementing our global offerings in this space.

“This marks an important milestone in our development strategy in Singapore, our fast-growing centre of expertise for solutions to institutional investors in the region, from where we are now able to offer our clients an integrated solution in securities and derivatives services.”