CHAPS Payment System Welcomes BNP Paribas as 22nd Direct Participant

Published 

CHAPS Co. (CHAPS), the UK’s same day high-value electronic payment system, has announced the addition of BNP Paribas as a Direct Participant onto its system.

As a Direct Participant, BNP Paribas can now directly send and receive irrevocable, guaranteed sterling payments with same day finality, rather than through a third-party. Its customers will also benefit from enhanced payment security and mitigation of settlement risk.

Mark Hale, Acting CEO of CHAPS, comments: “We are delighted to welcome BNP Paribas as a Direct Participant within the CHAPS system. BNP Paribas is a leader in banking and financial services in Europe, with an international presence in 75 countries. The Direct Participation of BNP Paribas in CHAPS further extends the accessibility of CHAPS around the globe and we are looking forward to working with them to enhance the service for the benefits of all our users.” 

Paul Gennart, Global Markets Chief Operating Officer, BNP Paribas, comments:  “CHAPS’ proven mechanism for delivering safe and secure payments enhances our ability to meet the evolving needs of our global client base – notably in terms of flexible payment solutions, reporting and information management.” 

The official joining of BNP Paribas now takes the total of CHAPS’ Direct Participant base to twenty two, with further banks expected to be onboarded by the end of 2016.

CHAPS performs a fundamental role in the UK economy, settling high-value, time-dependent sterling payments securely in real-time. It represents 92% of total sterling payment values (excluding internalised flows within Payment Service Providers) and settles an average of £277 billion on behalf of more than 5,000 institutions and individuals every day.

Most recent episodes

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY’s distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event,...

00:00

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI’s Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI’s Editor, Eleanor Hill, to explore the very latest treasury trends – and to discuss how smart treasurers can get ahead of the game by ...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI’s Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14

The 3 T’s of The Future: Tech, Treasury, and Transformation

Over the past two years, an increasingly dynamic environment has not only accelerated technology development – from quantum computing to blockchain technology, and even the metaverse – but also technology adoption, bridging colleagues and breaking down silos in a remote work world. In this podcast,...

44:02

Monetary Policy Continues to Drive Markets as Ukraine Invasion Weighs on March Meetings

Welcome to the second edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 3rd of...

05:25

Tax Spotlight: How the OECD’s Two-Pillar Solution Impacts Treasury

Aaron Lee and Joseph Lee (DBS Bank) join TMI’s Eleanor Hill to discuss how the OECD’s Two-Pillar Solution aims to address the tax challenges arising from the digitalisation of the economy. Ahead of the 2023 implementation date multinational corporates will have much to consider around these reforms....

24:00

FX Connections: Bringing Transparency to Cross-Currency Payments

Cross-border activity is growing at a remarkable rate, making FX payments a hot topic for treasurers across the globe.  In this TreasuryCast episode, Eleanor Hill asks Daniela Eder and Gibran Maqsood (Barclays Corporate Banking) to provide their key action points around FX payments in 2022. Our guests...

21:00