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Market Passport

Belgium

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Market information

Supporting you

Key market information

  • Local currency

    Euro
    (EUR)

  • 2017 GDP

    USD
    495bn

  • Time zone

    GMT
    +1 hour

  • Numbering
    system

    ISIN

  • Main stock
    exchange index

    BEL 20

Key market figures (Euronext total)

Market capitalisation USD 4,393bn
Number of listed companies 1,255
2017 value of share trading USD 2,774bn
Number of ETFs listed 804
2017 value of bonds trading USD 8.1bn
Number of bonds listed 5,659
Number of futures contracts traded in 2017 0.39m
Number of options contracts traded in 2017 70.08m

Local market infrastructures

  Equities Corporate bonds Government bonds Derivatives
Main trading venue NYSE Euronext NYSE Euronext NYSE Euronext EURONEXT
Main clearing venue OTC OTC OTC LCH.Clearnet SA
Settlement and custody Euroclear Belgium National Bank of Belgium or Euroclear Belgium National Bank of Belgium or Euroclear Belgium n/a
Cash leg Central bank (TARGET2) Central bank (TARGET2) Central bank (TARGET2) n/a

Local market authorities and regulators

  • The Financial Services and Markets Authority (FSMA) is responsible for financial market supervision and consumer protection
  • The National Bank of Belgium is in charge of prudential supervision of financial institutions from both the micro-prudential angles, and the prompt detection of systemic risk

Market practices (ALL TIMES ARE LOCAL)

SECURITIES
Settlement cycles
Equities T+2
Bonds T+2
Cash T+0
Cut-off times
Equities 4.00pm
Bonds 4.00pm
Cash 4.00pm
 
Omnibus account/securities Yes
Omnibus account/cash Yes
Pre-matching Yes
Irrevocable pre-matching No
Short selling No
Cash settlement/DVP Yes
Securities lending Yes
Foreign ownership limits Yes
Derivatives
Settlement Cash and physical
Trading cut-off 5.35pm
Clearing cut-off 7.30pm, 8.00pm on expiry day
Tradable currencies EUR
Account structure members Segregated and omnibus
Account structure non-members Segregated and omnibus
Give-up Yes
Give-up cut-off T+5
Adjustable ITM (In The Money minimum) No
Intra-day margin call Yes
Risk algorithm SPAN
Tolerance limits
  • Up to EUR 100,000 trade value: EUR 2.00
  • Over EUR 100,000 trade value: EUR 25.00
Examples of market penalties (LCH.Clearnet SA)

Fail penalty fees (not applicable to non-guaranteed postings)

  • A fixed fee of EUR 15, plus
  • A variable fee (EONIA-based rate + 1%)/360 x amount

The invoicing of penalties applies per open business day on each fail per ISIN code, per Delivery Account (all settlement dates aggregated) and per Clearing Member.

Buy-in practice (LCH.Clearnet SA) (not applicable to non-guaranteed postings)

A fee of EUR 150 is charged for each buy-in process initiated by LCH.Clearnet SA in addition to any amount due to meet the cost of purchasing the securities.

BNP Paribas customers benefit from free access to more detailed market information on our NeoLink webportal. Click here to access the Market Profiles or contact your relationship manager.

Supporting you

BNP Paribas Securities Services in Belgium

We offer comprehensive post-trade services, combining the international expertise of a universal bank with local proximity, capitalising on the footprint of BNP Paribas Fortis, the largest retail bank in Belgium.

Our main services

Core

We offer local clearing and custody to domestic and foreign institutions. Our core services include settlement, on-exchange clearing, safekeeping, corporate actions, cash and collateral management, tax and proxy services.

Market-specific

  • Tailor-made or local reporting
  • Global custody access point
  • Corporate trust services for issuers, including paying, calculation and listing agent services for corporate debt issuances
  • Comprehensive services to asset managers, including fund administration, valuation, middle-office outsourcing and depot bank

What makes us different

  • Ability to develop local tailor-made services
  • A ‘one-bank’ approach, leveraging BNP Paribas Fortis, which has a deep presence in the Belgian market
  • A multilingual, young and dynamic team

Selected market recognition

Global Investor Investment Excellence Awards (2018): Sub-custody Survey Winner Multi-market EMEA for Belgium – unweighted

A sound partner

BNP Paribas Securities Services established a local branch in 2000 and employs 90 experts in Belgium. We have an excellent access to the local market authorities and the market infrastructure, enabling us to address the fast changing regulations in Belgium.

Contact

For more information, please contact your relationship manager or
Olivier Van Rymenant, Head of Relationship Management and Client Service Management
olivier.vanrymenant@bnpparibas.com

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