|Equities and ETFs||Bonds|
|Main trading venues||Irish Stock Exchange (ISE), London Stock Exchange (LSE)||ISE Xetra|
|Main clearing venues||Eurex Clearing, moving to EuroCCP as of from 12th November), LCH.Clearnet Ltd||LCH.Clearnet Ltd|
|Settlement||Settlement: Euroclear UK + Ireland (EUR, USD, GBP); Custody: EUI||EUI, Euroclear Bank|
|Custody||EUI||EUI, Euroclear Bank|
|Cash leg||CREST payment banks||CREST payment banks|
Matching: A firm must match 100% of their transactions by 8.00pm UK time in the CREST system on T+1. Non-compliance with this target means the last party to input or amend an instruction will incur a fine of £2 for each day the transaction remains unmatched, payable to EUI.
Settlement: The CREST Settlement Discipline rules require that all CREST participants settle transactions according to specified target rate bands, relating to ISD and subsequent business days, e.g. band 0 representing the close of ISD; band 1 representing the close of the business day after ISD, etc.
CREST retrospectively determines the extent of non-compliance with these target rates for all bands up to ISD+20 for which it was the seller that did not settle on due date, and charges an ad valorem and a per transaction fine.
Buy-in process and fees for OEX transactions.
In the event of a settlement fail at end-of-day on ISD+4, the Clearing House will automatically commence the buy-in process and notify Clearing Members accordingly. The buy-in execution date (“Buy-in Day”) will be ISD+5 except where the failed settlement is covered by for the market maker scheme in which case it will be ISD+11.
In the event that buying-in settlement cannot be achieved after ISD+20, then the Clearing House may cash settle any outstanding transactions at 120% of the last available closing price.
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.
The Irish and UK markets share many systems and infrastructures. BNP Paribas Securities Services capitalises on its status as the largest eurozone custodian and its strong presence in the UK to deliver efficient and industry-leading securities services solutions in Ireland.
We offer local custody to domestic and foreign institutions. Our core services include settlement, safekeeping, corporate actions, proxy services, cash and collateral management.
BNP Paribas has been active in Ireland since 1973. Our Irish securities services business is primarily supported from the UK where we have been present for over 150 years. We offer local clearing and custody services to over 90 UK and Irish clients.
For more information, please contact your relationship manager or
Philip Parmley, Head of Financial Intermediaries IE Sales