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Market Passport

Netherlands

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Market information

Supporting you

Key market information

  • Local currency

    Euro
    (EUR)

  • 2017 GDP

    USD
    826bn

  • Time zone

    GMT
    +1 hour

  • Numbering
    system

    ISIN

  • Main stock
    exchange index

    AEX

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
Trading NYSE Euronext NYSE Euronext NYSE Euronext EURONEXT
Clearing LCH.Clearnet SA LCH.Clearnet SA LCH.Clearnet SA LCH.Clearnet SA
Settlement and custody Euroclear Netherlands Euroclear Netherlands Euroclear Netherlands n/a
Cash leg Central bank (TARGET2 – DCA) Central bank (TARGET2 – DCA) Central bank (TARGET2 – DCA) n/a

Local market authorities and regulators

  • The Autoriteit Financiële Markten (AFM) is responsible for supervising the operation of financial markets: savings, investment, insurance loans
  • The Dutch Central Bank (De Nederlandsche Bank) is responsible for prudential supervision

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 5.00pm
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 5.35pm
Clearing cut-off 7.30pm, 8.00pm on expiry day
Tradable currencies EUR/SEK/GBP/NOK/CHF/DKK/USD
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
Example 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 Netherlands

Leveraging the strength of its Euronext capabilities, BNP Paribas Securities Services has gradually become one of the three leading custodians for local clearing and custody in the Netherlands.

Our main services

Core

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

Market-specific

  • Leading position on Euronext markets
  • Financing and fail coverage
  • Broker-dealer outsourcing services
  • Global Custody services for Netherlands-based Pension Funds, Investment Funds and Insurance companies
  • Corporate trust services for issuers
  • Fund administration services

What makes us different

  • Close relationship with the stock exchange, CCP’s, CSD, tax and regulatory authorities, contributing actively in all relevant market infrastructure committees
  • Insourcing of the middle- and back-office activities of Actiam, making us a strong provider for fund administration and global custody activities

Selected market recognition

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

A sound partner

BNP Paribas Securities Services SA started offering local custody in the Netherlands in 2001. Our team of 80 local experts is supported by a remote setup in Paris and Lisbon. Our commitment to the market was recently evidenced by the insourcing of the Actiam back- and middle-office in July 2017.

Contact

For more information, please contact your relationship manager or
Ronald Koelewijn, Head of Financial Intermediaries and Global Relationship Management
ronald.koelewijn@bnpparibas.com

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