Custody and clearing operations in bank's global network

The custody and clearing operations of HSBC Malta have been accepted to form part of the HSBC Group's global network.

Custody and clearing services include safe custody, receipt and delivery of shares and bonds, portfolio and cash management, corporate action reporting, collection of dividends and proxy and foreign exchange services.

HSBC's custody and clearing business operates in 33 markets in the Asia-Pacific, the Middle East, Southern Europe and Latin America, providing custody and clearing services to institutional clients like pension funds, investment managers, insurance companies and broker dealers worldwide.

HSBC is responsible for the safe keeping of over $440 billion in client assets. The inclusion of HSBC Bank Malta plc in this global network will enable global players to participate in the local stock exchange market, the bank said.

With Malta's membership of the EU, global institutional investors that already hold a custodian relationship with HSBC elsewhere can now easily establish a capability here by including Malta in their European Regional Custody Agreement with HSBC, it added.

HSBC has issued a new market guide to the 33 countries in the network covering all aspects of these markets including local procedures, practices and services. This is available online at www.hsbcnet.com.