TEB Securities Services, formed by TEB A.S. and BNP Paribas Securities Services (‘BNP Paribas') in 2007, is now able to offer clients a unique integrated execution, clearing and reporting solution for exchange-traded derivatives in Turkey. This solution, which complements the TEB Securities Services local clearing and custody offer, delivering secure transactions at lower costs and reduced operational risk, in Turkey.
This solution complements the fully-fledged local clearing and custody offer provided by TEB Securities Services.
Through TEB Treasury's membership of TurkDEX, the Turkish derivatives market, TEB Securities Services now offers a single entry point to Turkish exchange-traded derivatives for execution and clearing of all instrument types. This solution, which combines the expertise of BNP Paribas Securities Services, Europe's leading asset servicing provider, with TEB's local market knowledge to offer clients provides the following services :
Front office side :
· Execution with pro-active margin and funding solutions
· Trade confirmation
Back office side :
· Reconciliation of market executions
· Margin Call payment and collateral management
· Accounting and Control
· Brokerage Fee calculation and reporting
· Daily reporting of transactions, P&L, and Interest income on collateral.
TEB Securities Services is the only custodian in Turkey providing both execution and clearing packaged services within the bank, thus providing to our clients:
· the benefits of working with an expert securities services provider
· the support of the Bank's balance sheet support of the bank.
TurkDEX is Turkey's first private exchange, founded in 2001, and in 2006 it was the world's fastest growing market, with continued growth into 2007 and 2008:
· The number of contracts traded increased from 6.6 million in 2006 to 24.9 million in 2007 an increase of 275%
· The annual trading value rose from 17.4 billion in 2006 to 118 billion in 2007 an increase of 579%.
· The monthly average open interest in 2007 increased by 107% in comparison to 2006
* source TurkDEX
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 BNP Paribas Securities Services
BNP Paribas Securities Services (www.securities.bnpparibas.com) is a wholly-owned subsidiary of BNP Paribas. With €3.6 trillion assets under custody, €744 billion assets under administration and close to 6,000 funds administered, BNP Paribas Securities Services is the leading European provider of securities services and rated number 5 in the world.
BNP Paribas Securities Services has a unique multi-local model, servicing both the buy-side and sell-side with 5,400 employees worldwide, a local presence across 25 countries and global coverage of 92 markets.
About TEB Securities Services
TEB Securities Services, formed by TEB and BNP Paribas Securities Services in December 2007, combines the strengths of Europe's leading securities services provider with a leading and fast growing bank in Turkey.
TEB Securities Services offers clients local custody and clearing services, including comprehensive cash management products and extensive treasury resources to help clients with their trading business.
TEB Securities Services has a unique access to TurkDEX, providing clients with a packaged Execution (TEB Treasury) clearing and reporting (TEB Securities Services) solution for all Turkish instrument types. At the same time, thanks to its local presence and trading abilities, TEB Securities Services' offer includes bundled execution and clearing services for equities and fixed income instruments. Non-resident financial institutions can also benefit from cash clearing services offered by TEB and securities lending capabilities through BNP Paribas Securities Services London desk.