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AGENCE FRANCE TRESOR is tasked with managing the government debt and cash positions under the most secure conditions in the interest of the taxpayer.
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30/01/2014 : 2013 league table of the most active primary dealers (SVTs)  
Overall Ranking: the most active SVTs in 2013

Each year, since 1999, the league table of the most active primary dealers in French government securities (SVTs) is published. The assessment of their performance is based on all aspects of their role, including participation in auctions, presence in the secondary market, as well as the quality of the relationship they have with the AFT (security of operations, advisory services offered, closeness and stability of the relationship).

All 19 SVTs are ranked out of a total of 100 points, with 40 allocated for participation in auctions, 30 for presence in the secondary market and 30 for qualitative characteristics (see below for details).

On this basis, the overall ranking of the top 10 institutions is as follows:

1 BNP Paribas
2 Société Générale
3 Barclays
4 HSBC
5 Crédit Agricole
6 Morgan Stanley
7 Natixis
8 Royal Bank of Scotland
9 Bank of America – Merrill Lynch
10 Citigroup

Detailed rankings: activity in the primary and secondary markets and qualitative criterion

Primary market
Based on their participation in auctions and buybacks, the ranking of the top 10 institutions is as follows:

1 BNP Paribas
2 HSBC
3 Morgan Stanley
4 Barclays
5 Société Générale
6 Crédit Agricole
7 Natixis
8 Royal Bank of Scotland
9 Bank of America – Merrill Lynch
10 Credit Suisse

Secondary market
Based on their activity in the secondary market, the ranking of the top 10 institutions is as follows:

1 BNP Paribas
2 Barclays
3 Société Générale
4 Crédit Agricole
5 HSBC
6 Morgan Stanley
7 Citigroup
8 JP Morgan
9 Royal Bank of Scotland
10 Nomura

Qualitative criterion
Based on the quality of services provided as primary dealers, the ranking of the top 10 institutions is as follows:

1 Société Générale
2 Barclays
3 HSBC
4 BNP Paribas
5 (tie) Natixis
5 (tie) Crédit Agricole
7 Morgan Stanley
8 Credit Suisse
9 Royal Bank of Scotland
10 Nomura


Press contact:
Tân Le Quang
+33 1 4004 1550
+33 6 7224 0388





MAJ : 30 Jan. 2014