SGSS adds another African market Societe Generale Securities Services (SGSS) reports that it has extended its South African custody hub to Mauritius. It has become the first remote participant to receive approval from the Mauritius Financial Services Commission (FSC) to provide comprehensive custody services in the country. These services will be provided through Johannesburg, backed by teams with extensive experience and expertise in the 11 African markets where it has a presence. SGSS says its pan-African integrated custody platform has been successfully connected to the Mauritius Central Depository & Settlement Co, the result of close co-operation between SGSS and the Mauritius regulatory authorities to amend local legislation and allow a remote custodian to participate in the market. This initiative enables SGSS to offer domestic and international investors in Mauritius services that are compliant with international industry standards. SGSS takes the opportunity to remind readers that it offers a full range of securities services in South Africa to a broad client–base of asset managers, global custodians, investment banks and broker dealers. The overall offering in the country now includes both local and global custody, clearing and settlement services across all asset classes, as well as securities lending and treasury solutions. It says this latest move underlines its continued commitment to sub-Saharan Africa and represents a further step in its strategy to expand its wider presence across Africa, a continent which is undergoing rapid growth, and to provide domestic and international clients with reliable and quality products and services for their operations and development.
Posted on: Mon, 19 Jan 2015 17:41:16 +0000
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