CONTACT US   |   SUBSCRIPTION   |   RSS FEED



AGENCE FRANCE TRESOR is tasked with managing the government debt and cash positions under the most secure conditions in the interest of the taxpayer.
Home > Publications > Press releases

30/01/2009 : League table 2008 of the most active primary dealers (SVT)  

 

Overall Ranking: the most active SVTs in 2008
100 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 2008 are as follows, in descending order:
1 BNP Paribas
2 Barclays Capital
3 Société Générale
4 Royal Bank of Scotland
5 HSBC
6 Calyon
7 JP Morgan
8 UBS
9 Deutsche Bank


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 BNP Paribas
2 Royal Bank of Scotland
3 Calyon
4 Société Générale
5 Barclays Capital
6 HSBC
7 JP Morgan
8 UBS

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 HSBC
5 Royal Bank of Scotland
6 UBS
7 JP Morgan
8 Calyon

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


Each year, since 1999, the league table of the most active primary dealers in French government securities (SVTs) is published. The 2008 league table is the third 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.


* 18 SVT remain at the end of 2008 since ABN AMRO and Lehman Brothers are not SVT any more. 


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





MAJ : 30 Jan. 2009