Tesoro Publico, is responsible for the design and implementation of the funding strategy of the Spanish Central Government.
Tesoro Publico head of the Debt Division Ignacio Fernandez-Palomero said the new platform has given them the base to enhance their collateral activities, with the safety and security of BNP Paribas Securities Services’ custody services.
"We also appreciated the team’s expertise, both on a technical and regulatory level. The fact that they had a deep knowledge of both collateral management and custody under one roof was a key factor in our decision" Fernandez-Palomero added.
BNP Paribas’ collateral management platform also enables clients to benefit from multi-jurisdictional booking of collateral across more than 10 ten locations.
According to BNP Paribas, the platform can either be integrated seamlessly into existing client systems, or provided as part of the bank’s full suite of services for OTC derivatives including trade management, independent valuations and collateral management.
BNP Paribas Securities Services head of collateral management services Helene Virello said they are delighted that the Kingdom of Spain has entrusted them with its collateral management and custody requirements.
"Meeting ever increasing collateral requirements is essential to clients trading OTC derivatives today, and this development demonstrates our dedication to supporting our clients across the entire post-trade lifecycle," Virello said.
