Cookie policy

By pursuing your navigation on our website, you allow us to place cookies on your device. These cookies are set in order to secure your browsing, improve your user experience and enable us to compile statistics. For further information, please report to our cookie policy.

Market Passport

Germany

Change market

Market information

Supporting you

Key market information

  • Local currency

    Euro
    (EUR)

  • 2017 GDP

    USD
    3,685bn

  • Time zone

    GMT
    +1 hour

  • Numbering
    system

    ISIN

  • Main stock
    exchange index

    DAX

Key market figures

Market capitalisation USD 2,262bn
Number of listed companies 499
2017 value of share trading USD 1,553bn
Number of ETFs listed 1,204
2017 value of bonds trading n/a
Number of bonds listed 29,749
Number of futures contracts traded in 2017 101.41m
Number of options contracts traded in 2017 169.18m

Local market infrastructures

  Equities Corporate bonds Government bonds Derivatives
Main trading venue FSE FSE FSE Eurex
Main clearing venue Eurex Clearing AG Eurex Clearing AG Eurex Clearing AG Eurex Clearing AG
Settlement and custody CBF/CBL CBF/CBL CBF/CBL n/a
Cash leg Central bank (TARGET2) Central bank (TARGET2) Central bank (TARGET2) n/a

Local market authorities and regulators

  • The Federal Financial Supervisory Authority (BaFin) conducts banking, insurance and securities markets supervision and ensures the proper functioning, stability and integrity of the financial system
  • The Deutsche Bundesbank is the German central bank and plays a significant role in banking supervision

Market practices (ALL TIMES ARE LOCAL)

SECURITIES
Settlement cycles
Equities T+2
Bonds T+2
Cash T+2
Cut-off times
Equities 1.15pm
DVP RTS* 4.00pm
FoP RTS* 6.00pm
Bonds 1.15pm
DVP RTS* 4.00pm
FoP RTS* 6.00pm
Cash 6.00pm

* Real Time Settlement only in case of bilateral agreement.

 
Omnibus account/securities Yes
Omnibus account/cash Yes
Pre-matching Yes
Irrevocable pre-matching No
Short selling Yes
Cash settlement/DVP Yes
Securities lending Yes
Foreign ownership limits No
Derivatives
Settlement Cash and physical
Trading cut-off Depends on individual products
Clearing cut-off Depends on individual products
Tradable currencies CHF/EUR/GBP/USD/KRW
Account structure members Segregated
Account structure non-members Segregated and omnibus
Give-up Yes
Give-up cut-off T+3
Adjustable ITM (In The Money minimum) Yes
Intra-day margin call Yes
Risk algorithm PRISMA method
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

Penalties exist only for bond settlements resulting from Eurex expiries.

Buy-in practice

CCP trade: 1st buy-in attempt on SD+5, 2nd buy-in attempt on SD+10, 3rd buy-in attempt on SD+27; Cash settlement on SD+30 to SD+36, next buy-in attempt SD+37.

Buy-in cost: 10% of outstanding buy-in amount (min EUR 250/CHF 400, max EUR 5,000/CHF 8,000).

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 Germany

We are the largest depository bank in Germany, with a strong commitment to supporting financial intermediaries.

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, proxy services, cash and collateral management.

Market-specific

  • Broker dealer outsourcing services
  • Clearing and/or settlement services for on- and off-exchange activities
  • Global custody access point
  • Fund administration and middle office services for asset managers
  • Corporate trust services for issuers

What makes us different

  • One single partner to access the German and Austrian Markets: legal contract, Service Level Definition (SLD), account managers and relationship manager
  • A major fund administration player in Germany following the 2018 strategic outsourcing partnership with DWS, one of the world’s leading asset managers

Selected market recognition

  • Global Investor Sub-Custody Survey (2017): ranked first – unweighted
  • Custody Risk Global Awards (2017): Custodian of the year for Germany

A sound partner

BNP Paribas Group has been active in Germany since 1947. BNP Paribas Securities Services Germany was created in 1995. It has constantly expanded since and has now 330 employees based in Frankfurt. With EUR 1,195 billion assets under custody and EUR 449 billion assets under administration (as at 31st July 2018), BNP Paribas Securities Services Frankfurt is the largest depository bank in Germany.

Contact

For more information, please contact your relationship manager or
Dietmar Roessler, Head of Sales and Relationship Management
dietmar.roessler@bnpparibas.com

Shorcuts

Follow us