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Insights

Welcome to the Market Passport

The Market Passport facilitates your access to 27 major markets where BNP Paribas Securities Services has direct infrastructure membership, bringing together key figures and information on local practices. It also offers details on our local capabilities and presence.

If you have any questions regarding the markets shown, or our capabilities, please contact your relationship manager or the dedicated contact shown for each market.

Supporting your competitive edge through our custody services

Our ambition is to be the long-term asset servicing provider of choice for leading financial institutions in a fast-changing world. Clients are at the centre of everything we do.

Today, we safekeep over 90% of their assets within our highly-rated, award-winning network. As we serve an increasingly global client-base, we remain committed to further extending our direct clearing and custody network worldwide.

We are proud to offer a true global / local model. Global relationship management and product development are combined with in-country expertise and market advocacy. We believe this model offers clients a competitive advantage in the financial markets they operate in.

In each of our markets, we continuously streamline our custody processes to deliver better, faster and simpler solutions. We call this “Augmented Custody”, a multi-year programme launched in 2017 which has already delivered significant benefits.

Our global custody clients benefit from access to over 90 markets, with a choice of 13 booking centres located across the world.

 

Glossary

Key market information

2017 GDP

Gross domestic product for 2017. Values are based on 2017 GDP (or its latest estimate) expressed in national currency converted to U.S. dollars using market exchange rates (yearly average). Source : International Monetary Fund, World Economic Outlook Database, April 2018

Key market figures

Where available, all figures were sourced from the World Federation of Exchanges – Annual Statistic Guide 2017. For Austria, Hungary, Italy and Poland, they were complemented from local sources.

Market capitalisation

Total value of the domestic shares of publicly traded companies as of 31 December 2017

Number of listed companies

number of listed companies as of 31 December 2017

Value of share trading

total number of shares traded in 2017 multiplied by their respective matching prices. The figures include i) trades effected through the electronic order book (EOB), ii) other trades confirmed through a system managed (directly or indirectly) by the Exchange, where both seller and buyer agree on the transaction (price and quantity), and iii) trades reported through a Trade Reporting Facility (TRF) when only one counterparty provides information on the trade and offers dissemination services at the request of the reporting trader.

Number of ETF listed

number of listed exchange traded funds as of 31 December 2017

Value of bond trading

value of bond trading as of 31 December 2017

Number of bonds listed

number of listed bonds as of 31 December 2017

Number of futures/options contracts traded

number of futures/options traded in 2017
 

Market practices - securities

Cut-off times

market cut-off times on settlement date (SD) in local time

Omnibus account / securities

indicates that securities are held in an omnibus account at the CSD

Omnibus account / cash

indicates that cash is held in an omnibus account at the CSD

Pre-matching

indicates that the market supports a procedure for pre-matching instructions

Irrevocable pre-matching

indicates that settlement by both parties is guaranteed once pre-matching is performed, subject to reserves (cash/stock) being available.

Short selling

indicates that the procedure is allowed by the market

Cash settlement/DVP

indicates that cash and securities are exchanged simultaneously

Securities lending

indicates that securities lending is allowed

Example of market penalties

lists market penalties imposed as a result of late or delayed settlement

Tolerance limits

indicates matching criteria limits for cash account discrepancy

Cut-off times

market cut-off times on settlement date in local time
 

Market practices - derivatives

Settlement

indicates that the market support cash and/or physical settlement

Trading /clearing cut-off

market cut-off times for trading / clearing in local time

Account structure

indicates that segregated accounts are used versus omnibus accounts

Give-up / give-up delay

indicates that the market supports give-ups and the maximum delay between the transaction (T) and the give-up

Adjustable ITM

indicates that the In The Money Minimum (ITM) is adjustable

Intraday margin calls

indicates that margin calls are performed intraday

Risk algorithm

indicates the methodology used for risk assessment and margin calculation for positions on the derivatives and cash markets. A common methodology is SPAN (Standard Portfolio Analysis of Risk).

 

The information contained in the country pages of the Market Passport is believed to be reliable but BNP Paribas Securities Services does not warrant its completeness or accuracy.

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