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.
