|Equities||Corporate bonds||Government bonds||Derivatives|
|Settlement and custody||NZX/NZClear||NZX/NZClear||NZX/NZClear||NZX|
There are no tolerance limits applicable to the New Zealand Market.
In New Zealand there are no specific market penalties for failed settlements although there is a requirement to close out any positions accordingly.
The New Zealand market does not have a buy-in practice but the clearing and settlement rules provide a number of remedies in the event of a failure to deliver securities for settlement. These include carrying forward the unsettled position to the next settlement day, buying in the securities to enable settlement of the position, and cancelling the unsettled position. The common practice in this situation is to carry forward the unsettled position for 4 days from settlement date (SD), then conduct a buy-in on SD+5. If the buy-in is unsuccessful then the position is cancelled on SD+6.
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.
We are one of the few custodians in the New Zealand market to have full service capabilities for financial intermediaries.
We offer local custody to domestic and foreign institutions. Our core services include settlement, safekeeping, corporate actions, proxy and tax services, cash and collateral management.
BNP Paribas Securities Services offers services into New Zealand via our Australian branch. We also have local presence in both Wellington and Auckland as part of our full service offering.
For more information, please contact your relationship manager or
Doug Cameron, Head of Location