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Covid-19: message from BNP Paribas Securities Services
Covid-19: message from BNP Paribas Securities Services
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Covid-19: message from BNP Paribas Securities Services

26/03/2020


Author : Patrick COLLE, General Manager of BNP Paribas Securities Services

Dear client,

We hope this letter finds you and your families well.

As part of our commitment to be your partner under all market conditions, we want to keep you informed of the key strategic decisions that have been taken during the global Covid-19 pandemic.

We are pleased to report that our global yet local operating model, combined with IT agility, is helping us to adapt dynamically to the evolving situation.

Our teams are working tirelessly to ensure we continue to serve you in these challenging times. Our priority is to keep those teams safe and we are taking every step to do so. Many of our staff, including client delivery teams, are working from home or in split teams between our offices and alternative sites.

As a result of record trading activity coupled with fast changes in asset prices, we have managed unprecedented volumes over the past two weeks. We are monitoring the situation around the clock, anticipating changes where possible and adapting the set-up of our platform accordingly. In particular, we have been working to:

  • increase work from home capabilities for our teams in affected countries: in less than two weeks we have aggressively ramped-up our set-up and a large majority of our staff, including those in operations and client delivery, are equipped to work from home;
  • proactively manage our IT capacity with the aim to ensure we can process critical tasks and controls: IT changes are kept to a minimum and critical staff are guaranteed permanent, high availability network access; and
  • share workloads across our different teams, as part of a dynamic reallocation of activities to those countries where we have more available resources and can endeavour to continue normal activity.

In some locations, your usual contacts may have higher-than-usual volumes to handle. We would like, once again, to stress the importance of sending us your instructions on time so that we are able to process them efficiently.

Please be assured that we are fully committed to maintaining our quality of service in these challenging times, and to keeping you updated on a regular basis.

We stand by your side and welcome any questions you have. Your dedicated Relationship Manager and Client Service Managers are available by telephone and email. Do not hesitate to contact them.

Stay safe.

Kind regards,

Patrick Colle

General Manager of BNP Paribas Securities Services

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