NZX
24/04/2013 13:42
GENERAL
REL: 1342 HRS NZX Limited
GENERAL: NZX: NZX Equity Derivatives Update
NZX Equity Derivatives confirm BNP Paribas Securities Services' intention to
become General Clearing Member
NZX today announced that BNP Paribas Securities Services, Singapore (BNP
Paribas) has confirmed its intention to become a General Clearing Participant
for the NZX Equity Derivatives Market.
NZX Head of Business Strategy & Sales, Sam Stanley, commented: "We are
delighted that BNP Paribas, a leading global clearer, has committed to clear
equity derivatives in NZX's new market.
"We see this as a huge endorsement of New Zealand's capital markets and
further reinforcement of the valuable partnership between BNP Paribas and
NZX."
Bruno Campenon, Head of Clearing, Custody and Settlement Product Management
in Asia Pacific at BNP Paribas Securities Services SCA, commented: "We are
looking forward to expanding our clearing membership in Asia Pacific with NZX
as this will help reinforce our position as a leading clearer in the region.
This further demonstrates our commitment to supporting the international
development of Asia Pacific markets as a key component of our regional
strategy."
Expected launch date
Both Financial Markets Authority and Reserve Bank of New Zealand approval is
required and will be sought for the launch of the market. Subject to
receiving these regulatory approvals, NZX is on track to target a launch date
of Q3 2013 for its Equity Derivatives Market.
NZX intends to launch a futures contract on the NZX 20 Index along with ETO
(Exchange Traded Options) contracts over an initial three NZX stocks.
NZX continues to work closely with market participants in all aspects of the
development of these derivative contracts and we expect to be in a position
to announce a Trading Participant in the near future.
For further information please contact:
Kate McLaughlin
Head of Corporate Communications
M: 027 533 4529
E: [email protected]
About BNP Paribas Securities Services
BNP Paribas Securities Services
(http://securities.bnpparibas.com/jahia/Jahia/site/portal), a wholly owned
subsidiary of the BNP Paribas Group, is a leading global custodian and
securities services provider backed by a strong universal bank. It provides
integrated solutions to all participants in the investment cycle including
the buy side, sell side, corporates and issuers.
The bank has a local presence in 34 countries across five continents,
effecting global coverage of more than 100 markets. It partners with clients
to help overcome complexity, while offering a one-stop shop for all asset
classes, both onshore and offshore, around the world.
Key figures as at 30 September 2012: USD 6,815 billion of assets under
custody; USD 1,280 billion of assets under administration; more than 7,044
administered funds and 7,700 employees.
End CA:00235503 For:NZX Type:GENERAL Time:2013-04-24 13:42:34
