Based on the mandate, the French company will support Aviva to develop its repo activities in a continuously changing regulatory environment.
BNP Paribas collateral management head Hélène Virello said that the new mandate confirms its collateral management services expansion strategy for various underlying assets aside from repurchase agreements and cleared OTC derivatives.
Aviva Investors France Christian Dormeau stated that monitoring counterparty risk is a vital component of its asset management strategy.
"We are also confident that BNP Paribas will help us face the upcoming challenges related to new regulations, such as EMIR, that affect collateral management for OTC derivatives," Dormeau added.
Having operations in 15 nations, Aviva Investors France trades as the global asset management arm of Aviva Group and had assets under management of £274bn as at 30 September 2012.
Operating as a wholly owned subsidiary of BNP Paribas, BNP Paribas Securities Services offers global custodian and securities services to all participants including the buy-side, sell-side, corporate and issuers.
