BNP Paribas Securities Services (SS) has been granted a custodian of securities licence by the Securities and Exchange Board of India (Sebi.) It can now offer local custody operations to clients in India in addition to its existing listed derivatives clearing service.

As part of an increasing focus on the region, BNP Paribas SS has also launched two joint ventures with Sundaram Business Services. Sundaram BNP Paribas Fund Services will offer fund administration and fund services to Indian asset managers and institutional investors.

BNP Paribas Sundaram Global Securities Operations handles middle office work and transaction processing to support BNP Paribas SS's Asian operations. The two companies have an existing relationship through Sundaram BNP Paribas mutual, through which they jointly manage $2.9 billion in mutual funds.