Societe Generale Securities Services (SGSS) in the UK has won a mandate from Linear Investment Limited (Linear), a full-service mini-prime broker servicing international asset managers and hedge funds. SGSS will provide its Global Broker-Dealer Services (GBDS) outsourcing solution to support the growth in Linear’s European equities brokerage business.
Linear CEO Paul Kelly said: “When looking at the potential providers of broker-dealer post-trade services in the market it was clear that SGSS’ GBDS offers brokers the best solution and set up for post-trade activities. With their partnership with Accenture Post-Trade Processing, SGSS has built a highly effective and scalable service that covers all markets.”
“We value the opportunity to partner with Linear and are fully committed to providing unparalleled broker-dealer services in the market at a time when the institutional brokerage community is looking for greater support,” explains Guillaume Heraud, Global Head of Business Development, Financial Institutions and Brokers at SGSS. “With an unprecedented growth in sell-side outsourcing in response to regulatory and cost pressures, we are seeing that GBDS provides brokers with much more than just a post-trade platform – we become an extension of the client team.”
SGSS adds that its outsourcing platform encompasses a fully integrated set of modular services from execution, liquidity support, middle and back office processes, to core securities processing and asset servicing. SGSS developed this solution in response to increasing market demand from institutional brokers, mid-tier banks and mid-tier broker-dealers who want to concentrate on their key business and lower their production costs by outsourcing their non-core activities.