SGSS secures CNP Assurance mandate for collateral management services
Societe Generale Securities Services (SGSS) has been mandated by CNP Assurances to provide collateral management services with regard to collateral swaps between CNP Assurances and its counterparties.
SGSS won this mandate following a bidding process launched by CNP Assurances in order to adapt to the European Market Infrastructure Regulation (EMIR), which amongst other requirements, imposes more frequent collateral margin calls.
In order to meet these new requirements, SGSS’ offer is centred around two main elements: managing relations with CNP Assurances’ counterparties and monitoring margin calls and compliance with reporting requirements.
SGSS will manage collateral on the basis of contracts traded by CNP Assurances.
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