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Market Passport for Banks and Brokers
Market information
Supporting you
Key market information
Local currencyUS
Dollar (USD)
2017 GDPUSD
19,391bn
Time zoneGMT
-5 hours (ET)
Numbering
systemCUSIP
Main stock
exchange indexDJ/NASDAQ/S&P 500
Key market figures
Nasdaq – US: USD 10,039bn
Nasdaq – US: USD 2,949bn
Nasdaq – US: 337
Local market infrastructures
| Equities | Corporate bonds | Government bonds | Derivatives US Options | Derivatives futures | |
|---|---|---|---|---|---|
| Trading | NYSE, NASDAQ |
NYSE, NASDAQ |
Primary dealers | AMEX, BOX, CBOE, ISE, NASDAQ, NYSE, PHLX | CME Group |
| Clearing | DTCC | Bank of New York |
GSCC | OCC | CME Group |
| Settlement and custody | DTCC | DTCC | FED | n/a | n/a |
| Cash leg | DTCC | DTCC | FED | n/a | n/a |
Local market authorities and regulators
- The Securities and Exchange Commission (SEC), which protects investors, regulates markets and facilitates capital formation
- The Federal Reserve (Fed), which regulates banks
- The Financial Industry Regulatory Authority (FINRA), which regulates broker-dealers
- Commodity Futures Trading Commission (CFTC) which guides futures and commodities trading
Market practices (ALL TIMES ARE LOCAL)
Trade settlement cash tolerance is USD 10.
Treasury Market Practice Group (TMPG): For US Treasuries or Agency Debt where non-members of FICC are involved, or on any trades in Agency Mortgage-Backed Securities, the buyer can submit a claim to the seller. The recommended threshold is aggregated cumulative fails charges in amounts greater than USD 500, between the two counterparties for a given month.
SEC Regulation SHO: Under Rule 204, the participant must close out a fail to deliver for a short sale transaction on the settlement day following the settlement date (T+4). If the fail resulted from a long sale, or is attributable to bona-fide market making activities, the participant must close out the fail on the third settlement day following the settlement date (T+6).
Something interesting to know before you visit us in United States
There have been at least 28 versions of the American flag – the ‘Stars and Stripes’. The current version was designed by a 17-year old as a school project in 1958. He received a B- for his project!
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 United States
Advanced technologies, dual-office operations and customised client services are among the elements that distinguish BNP Paribas within the US custody space. Additionally, a single system for local and global custody offers clients reduced fails, better cut-off times and more competitive pricing.
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
- Direct participant of DTC and FED for local custody
- Collateral management services supporting OTC derivatives and reverse repo trading
- Middle-office services
- Securities lending across asset classes and currencies
- Global custody access point
- Corporate trust services
- Asset and fund services for local and global portfolio management companies
What makes us different
- Our dual-office approach provides clients with 16 hours of service coverage
- Advanced custody platform ensuring over 98% STP rate in tra de settlement
- Three operating models: traditional custody, broker-to-custody, account operator
- Tax reporting expertise
Selected market recognition
- Global Custodian Agent Banks in Major Markets Survey (2015-2017): ranked first
- Global Custodian Innovation in Market Coverage (2017): winner
- Global Investor Investment Excellence Awards (2018): Sub-Custody Survey Winner Multi-market Americas – United States
A sound partner
BNP Paribas has been present in the US since the late 1800s and offers a full range of services from investment and retail banking to asset management services. While the legal entity is BNP Paribas New York Branch, we operate within BNP Paribas Securities Services, which is a wholly-owned subsidiary of BNP Paribas Group.
Contact
For more information, please contact your relationship manager or
Wayne Finnegan Head of Sales and Relationship Management – North America
wayne.finnegan@us.bnpparibas.com
Something interesting to know before you visit us in United States
There have been at least 28 versions of the American flag – the ‘Stars and Stripes’. The current version was designed by a 17-year old as a school project in 1958. He received a B- for his project!