BNP Paribas Securities Asia today announces the successful execution of the first full Direct Market Access (“DMA”) order on the National Stock Exchange of India through its local JV partner Geojit Financial Services. It is the first brokerage house to offer full Direct Market Access execution.
This adds the 15th exchange to BNP Paribas’ DMA offering in Asia across Australia, Hong Kong, Japan, Korea, Singapore, Taiwan and Thailand.
“Following the launch of our India research products a month ago, this full DMA execution is the second milestone in the rapid development of our capabilities in the Indian market,” said Abhijit Raha, Chief Executive Officer of BNP Paribas Securities India.
BNP Paribas Securities India has developed strong growth momentum thanks to the strategic partnership between BNP Paribas and Geojit Financial Services. The company was incorporated in May and is now offering multi-product research as well as execution and trading capabilities on the Bombay Stock Exchange and National Stock Exchange through Geojit’s gateway. The 22-people strong research team will cover 100 Indian stocks and 11 sectors, representing 95% of India’s trading volume. Geojit Technologies Limited, a fully owned subsidiary of Geojit Financial Services has contributed significantly towards the DMA enablement.
“As India’s financial market opens up, this first DMA execution signifies that India is on its way towards applying global standards and best execution practices,” said CJ George, Managing Director of Geojit Financial Services.
“Despite the tough market conditions, we are committed to continue investing in our securities business in India and the rest of Asia,” said Pierre Rousseau, Chief Executive Officer of BNP Paribas Securities Asia. “With current credit ratings of S&P AA+ and Moody’s Aa1, BNP Paribas has emerged as one of the most credit worthy international banks at a time when a lot of our clients are concerned with counterpart risk.”
About BNP Paribas Securities Asia
Supported by a global top-tier financial powerhouse, BNP Paribas Securities Asia is a pioneer in Asian equities brokerage. It offers a modern and powerful equities trading platform that provides institutional investors with a comprehensive range of solutions. Its top ranking research teams in Strategy, Macro Economics, and Corporate Research offer a fully integrated Asian equity coverage and span over nine of Asia’s most active economies, namely China, Hong Kong, Singapore, Taiwan, Korea, Thailand, Indonesia, Malaysia, and India.
BNP Paribas Securities Asia operates an advanced trading and execution platform where its experienced traders and innovative systems provide customized solutions and direct access across 15 Asian stock exchanges, including China, Japan, India, Australia and New Zealand. The range of offerings includes connectivity, reporting, commission management, Transaction Cost Analysis and shortfall implementation. Execution is processed through advanced trading tools including Direct Market Access, Order Routing and our proprietary suite of trading algorithms GEAR™.
As part of the Group's Equity Derivatives division which is a world leading player in Equity Derivatives; coupled with its exclusive franchise with the Corporate Finance Asia Pacific division, BNP Paribas Securities Asia offers its clients a unique platform to leverage from a comprehensive product mix and direct access to a consistent deal-flow. BNP Paribas Securities (Asia) blends established Asian expertise and complete service integration to respond to clients' increasingly sophisticated investment needs.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 4 strongest banks in the world according to Standard & Poor’s. The group is present in over 85 countries, with more than 168,000 employees, including 129,500 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank’s two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
About Geojit Financial Services
Geojit Financial Services has a network of over 460 offices rendering high quality execution and related services. Geojit manages USD1.5 billion of assets for a customer base of 475,000 clients. The company, with 3,200 employees, is in the business of equities, derivatives, portfolio management services, custody services, distribution of mutual funds, and life insurance, commodity trading and margin trading. The company also has a strong presence in the Middle East via its joint-ventures in UAE and Saudia Arabia.
Contacts:
India:
Praveen Chakravarty, (91) 22 6650 1696
praveen.chakravarty@asia.bnpparibas.com
Hong
Kong:
Christine Chan, (852) 2909 8847
christine.chan@asia.bnpparibas.com
