Absa to unlock South African equities market for HSBC global clients

Absa has come to an agreement with HSBC for Absa to provide HSBC’s global equities and securities finance clients with access to the South African market.

Source: Wikimedia Commons.

In terms of the agreement, Absa will provide HSBC and its clients with access to a full suite of equities trading and prime brokerage products in South Africa.

The agreement aligns with Absa’s growth ambitions, which includes serving corporate and investment banking clients with access to equities markets and product, and underscores Absa’s position as a leading equities franchise in South Africa, with a market-leading equities trading and finance platform and prime brokerage capabilities to deliver on clients’ needs and expectations.

“The agreement is an endorsement of our strategy, which emphasises providing our clients with best-in-class equities product and equity market access,” commented Quintus Kilbourn, head of equities at Absa Corporate and Investment Banking.

“It is also recognition of the depth of Absa’s client base and equities product,” he continued.

The agreement with HSBC came into effect on Thursday, 26 September 2024.