France
Last November , Euronext has completed the expansion of the Euronext Clearing offering to cash markets in France . Looking forward , by September 2024 , it will be the new default CCP for listed derivatives for Euronext Clearing . Additionally , following the recent success of T + 1 in North America , the EU is subsequently weighing up its own move . While the decision will be made by the European Commission it has been reported that AMF and Banque de France are in discussions to assess its impact on operational efficiency and whether it would enhance market competitiveness and attractiveness to investors . The overall average for the French market has increased by 0.12 and sits within the Good range . Relationship Management ( 5.94 ), which sits just below Very Good , saw the largest increase yearon-year , up 29 basis points .
BNP Paribas While BNP Paribas has this year topped the French average ( 5.34 ), a commendable score of 5.50 was not quite enough to beat the 2024 global average ( 5.55 ). The custodian ’ s scores sit mostly in the Good range . Of course , the drop in the Client Service score ( down 0.34 ) should be highlighted , however , this category is still rated 5.75 ( Good ). With the launch of NeoLink , this score could bounce back with an uptick next year . Securities Lending has seen the largest uptick – up 28 basis points , moving this category into the Good range .
Intesa Sanpaolo For 2024 , Intesa Sanpaolo scored within the Very Good or Good range for every
category . Account Management , Client Service , and Relationship Management were the bank ’ s top-performing categories – each with a score of 6.27 . Securities Lending , at 6.00 , was the provider ’ s most improved score from 2023 , up an impressive 67 basis points . Unfortunately , due to a relatively low number of additional comments , more colour cannot be provided around the notable shift in rating .
France |
France 2024 |
France 2023 |
Global Average |
Difference to Global |
BNP |
Intesa |
Account Management |
5.59 |
5.37 |
5.83 |
-0.24 |
5.86 |
6.24 |
Asset Safety and risk management |
5.54 |
5.39 |
5.73 |
-0.18 |
5.87 |
5.76 |
Asset Servicing |
5.46 |
5.28 |
5.59 |
-0.13 |
5.59 |
5.94 |
Cash Management and FX |
5.20 |
5.09 |
5.46 |
-0.27 |
5.41 |
5.68 |
Client Service |
5.59 |
5.50 |
5.84 |
-0.24 |
5.75 |
6.24 |
Data Services |
5.28 |
5.23 |
5.44 |
-0.16 |
5.58 |
5.67 |
Service Innovation |
5.26 |
5.04 |
5.43 |
-0.18 |
5.36 |
5.50 |
Liquidity Management |
5.09 |
5.07 |
5.41 |
-0.32 |
5.38 |
5.20 |
Pricing |
4.91 |
4.93 |
5.20 |
-0.29 |
4.92 |
5.38 |
Regulation and Compliance |
5.30 |
5.27 |
5.57 |
-0.27 |
5.34 |
5.76 |
Relationship Management |
5.94 |
5.65 |
6.15 |
-0.21 |
5.89 |
6.24 |
Securities Lending |
5.02 |
4.96 |
5.17 |
-0.15 |
5.17 |
6.00 |
Technology |
5.19 |
5.06 |
5.33 |
-0.13 |
5.33 |
5.88 |
Average |
5.34 |
5.22 |
5.55 |
-0.21 |
5.50 |
5.81 |