As part of this mandate, FNZ will benefit from BNP Paribas Securities Services' Broker-to-Custody service, which offers seamless integration between the bank's execution and custody services. This allows clients to execute and settle trades seamlessly with one single instruction for greater operational efficiency, lower settlement costs and reduced risk of settlement failure.

BNP Paribas Securities Services will also provide FNZ with additional services including regulatory reporting and stock borrowing.

Thorsten Gommel, Head of Germany, Austria, Netherlands and Nordics, at BNP Paribas Securities services, said:

"I am delighted that FNZ has selected us to safekeep their assets and to help them further automate their operations with our Broker-to-Custody platform. We look forward to supporting this market-leading business across Germany and Europe with innovative and efficient back-office solutions to help them achieve their growth ambitions."

Kai Friedrich, CEO of FNZ Germany, added:

"We look forward to working with BNP Paribas Securities Services. Their Broker-to-Custody offering means we will benefit from a range of fully automated operational processes - from execution to settlement and custody - whilst providing our clients with seamless and highly-efficient access to multiple markets"

Working together will help us enhance our direct access to markets, benefit from a highly-customised asset servicing model and further our mission of opening up wealth."