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BNP Paribas has been granted a custody licence by the Securities and Exchange Board of India. With this licence, the firm can now offer local custody operations in the Indian market in addition to the listed derivatives clearing services it already provides from its Mumbai office. In 2008 BNP Paribas Securities Services partnered with Sundaram Business Services to establish two joint ventures operating from Chennai: Sundaram BNP Paribas Fund Services, providing fund services to Indian asset managers and institutional investors, and BNP Paribas Sundaram Global Securities Operations, which delivers transaction processing and middle-office operations.
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