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Market Passport

Market information

Supporting you

Key market information

  • Local currency

    Peruvian
    Sol (PEN)

  • 2017 GDP

    USD
    215m

  • Time zone

    GMT
    -5 hours

  • Numbering
    system

    ISIN

  • Main stock
    exchange index

    S&P/BVL Peru General
    S&P/BVL Peru Select
    S&P/BVL IBGC Index
    S&P/BVL Lima 25

Key market figures

Market capitalisation USD 99bn
Number of listed companies 233
2017 value of share trading USD 7.02bn
Number of ETFs listed 61
2017 value of bonds trading USD 0.46bn
Number of bonds listed 460
Number of futures contracts traded in 2017 n/a
Number of options contracts traded in 2017 n/a

Local market infrastructures

  Equities Bonds
Trading BVL BVL – DATATEC
Clearing CAVALI CAVALI
Settlement and custody CAVALI CAVALI
Cash leg BCR (Central Bank) BCR (Central Bank)

Local market authorities and regulators

  • Securities Superintendence (Superintendencia del Mercado de Valores – SMV)
  • Superintendencia Nacional de Administración Tributaria (SUNAT) – Tax authority

Market practices (ALL TIMES ARE LOCAL)

SECURITIES
Settlement cycles
Equities T+2
Bonds T+0
Cash T+0 – T+2
Cut-off times
Equities 1.00pm
Bonds 5.00pm
Cash 1.00pm
 
Omnibus account/securities No
Omnibus account/cash Yes
Pre-matching Yes
Irrevocable pre-matching No
Short selling Yes
Cash settlement/DVP No (not True DVP)
Securities lending Yes
Foreign ownership limits Yes
Tolerance limits

Standard tolerance limit is USD 25.00.

Examples of market penalties

Penalties apply only to local brokers failing to provide cash or securities on settlement date. Penalties go from suspension from trading to execution of the broker’s individual guarantee. Brokers may pass penalty costs to their clients.

Buy-in practice

There are no formal buy-in procedures in the market. In case of settlement failure, on SD+1, the failing counterparty broker is suspended on BVL. CAVALI administers a fund to cover any transaction failure funded by every participant (Fondo de liquidación).

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 Peru

We are the first custodian to provide clients with remote access to a Latin American market via Colombia, allowing them to optimise due diligence visits and market reviews, and perform a single KYC and onboarding process for both the Colombian and Peruvian markets.

Our main services

Core

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

Market-specific

Securities services provided via a remote access from Colombia.

What makes us different

  • Direct participant in the Peruvian CSD, CAVALI
  • Proactive involvement and discussion with the local market stakeholders to adopt a “true DVP” settlement model
  • Simplified proxy voting process: a single power of attorney required from the client (global custodian) on behalf of all the underlying investors

A sound partner

BNP Paribas Securities Services Sociedad Fiduciaria S.A. is a wholly-owned subsidiary of BNP Paribas Securities Services SCA located in Colombia. It employs 38 people and has been offering securities services in the Peruvian market since 2016.

Contact

For more information, please contact your relationship manager or
Francesco Rossini, Head of Client Development Hispanic LatAm
francesco.rossini@bnpparibas.com

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