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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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30/01/2013 : League table 2012 of the most active primary dealers (SVT)  
Overall Ranking: the most active SVTs in 2012

Each year, since 1999, the league table of the most active primary dealers in French government securities (SVTs) is published. The assessment of SVT activity takes into account all aspects of their role: participation in auctions, presence in the secondary market, as well as the qualitative characteristics of their commercial relationship with AFT.

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 2012 are as follows:

1 BNP Paribas
2 Société Générale
3 Morgan Stanley
4 Barclays Bank
5 HSBC
6 Natixis
7 Crédit Agricole
8 Royal Bank of Scotland
9 UBS

Primary, secondary and qualitative rankings

Primary market: For the participation in auctions and buybacks, the institutions which have a market share above 5 % are:

1 Morgan Stanley
2 BNP Paribas
3 HSBC
4 Barclays Bank
5 Société Générale
6 Natixis
7 Crédit Agricole
8 Royal Bank of Scotland
9 UBS


Secondary market: For activity in the secondary market, the institutions which have a market share above 5 % are:

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

Finally, for the quality of services provided as primary dealers, the institutions which obtain an above-average score are:

1 Société Générale
2 BNP Paribas
3 Barclays Bank
4 Natixis
5 HSBC
6ex Crédit Agricole
6ex Deutsche Bank
8 Morgan Stanley
9 ex Crédit Suisse
9 ex UBS


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




MAJ : 30 Jan. 2013