Societe Generale Combines Clearing and Custody Into Single Service for Financial Intermediaries

Societe Generale Securities Services (SGSS) has completed a year-long endeavor to integrate its clearing, settlement and custody services into a single model offered through one entity according to a story in The Grade news. The financial services provider has retired the PARAL brand – which was a fully owned subsidiary of Societe Generale offering clearing services – and created a ‘one-stop-shop’ through SGSS. By hosting the service through a single entity, SGSS is looking to boost its service to financial intermediaries and boost its position against rivals in the space. The harmonized offering will provide clients access to eight CCPs in Europe, settlement in the same value chain, global settlement leveraging on SGSS’ technology on settlement and global access to 85 markets. The firm said the markets are mostly European, but SGSS can offer clients access to across the world through its network of sub-custodians.