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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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30/01/2008 : League table 2007 of the most active primary dealers (SVT)  

Overall Ranking: the most active SVTs in 2007
One hundred points are allocated to all 20 SVTs, with a weighting of 40% for participation in auctions, 30% for presence in the secondary market and 30% for qualitative characteristics. On this basis, the institutions that have obtained a score above the theoretical average of 5 points (i.e. 100 points divided by 20 primary dealers) for 2007 are as follows, in descending order: 
1 Barclays Capital
2 BNP Paribas
3 Société Générale
4 HSBC
5 Deutsche Bank
6 Royal Bank of Scotland
7 Calyon
8 UBS
9 ABN AMRO
10 Crédit Suisse
11 JP Morgan
12 Natixis
 


Primary, secondary and qualitative rankings 
For the participation in auctions and buybacks, the institutions which obtain an above-average score according to this criterion are: 
1 Royal Bank of Scotland
2 Barclays Capital
3 HSBC
4 BNP Paribas
5 Société Générale
6 Calyon
7 Citigroup
8 Crédit Suisse
9 Lehman Brothers
10 Natixis
11 JP Morgan
12 ABN Amro
13 Deutsche Bank


For activity in the secondary market, the institutions which obtain an above-average score according to this criterion are: 
1 Barclays Capital 
2 BNP Paribas 
3 Société Générale
4 Deutsche Bank 
5 UBS 
6 Calyon 
7 HSBC 
8 JP Morgan 
9 Royal Bank of Scotland
10 ABN Amro


Finally, for the quality of services provided as primary dealers, the institutions which obtain an above-average score according to this criterion are: 
1 Société Générale
2 Deutsche Bank
3ex Barclays Capital 
3ex HSBC 
5 BNP Paribas
6 Natixis
7ex Calyon
7ex Crédit Suisse
9 Royal Bank of Scotland
10 ABN Amro
  


Each year, since 1999, the league table of the most active primary dealers in French government securities (SVTs) is published. The 2007 league table is the second based on the new SVT charter, published in June 2006. The assessment of SVT activity takes into account all aspects of their role: participation in auctions and, with a smaller weighting, presence in the secondary market, as well as the qualitative characteristics of their commercial relationship with AFT, including the extent of the institutions' presence in Paris. 


Press contact
Pierre Salaun:
33 1 40 04 15 50
33 6 72 24 03 88 





MAJ : 30 Jan. 2008