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Spain
On a macro level there have been several changes of note in the last few months . The Capital Markets Law was introduced in March 2023 , which resulted in significant changes to the post-trade landscape . BNP Paribas suggested the introduction of this new law may be to make the Spanish market more compatible with the expected implementation of T + 1 settlement . Looking at the survey results , it has been an excellent year for Spain , with an uptick in scores across the board . Account Management has seen the largest uptick since 2023 , while both Data Services and Service Innovation have beaten the global average this year .
BNP Paribas Just beating the country average , BNP Paribas has been rated Good by our respondents . Asset Safety and Risk Management has received the highest score , rated Very Good , at 6.09 . This category has also seen the largest uptick since last year – moving up 32 basis points . One client points out that BNP Paribas “ makes us more than aware of any market alerts and how to resolve them ,” while another reports to being confident in the custodian ’ s “ constant monitoring of our account ”.
The praise for BNP Paribas goes above and beyond the categories included in this research report . One notes the “ brilliant relationship ” with the bank and how they are looking to build on what they have currently . With many individuals within the custodian ’ s Spanish operations mentioned by name , it is clear that clients are very happy . One refers to the “ excellent service ” noting “ we are very happy with BNP Paribas as our agent ”.
Spain |
Spain 2024 |
Spain 2023 |
Global Average |
Difference to Global |
BNP |
Account Management |
5.77 |
5.41 |
5.83 |
-0.06 |
5.84 |
Asset Safety and risk management |
5.68 |
5.39 |
5.73 |
-0.05 |
6.09 |
Asset Servicing |
5.59 |
5.29 |
5.59 |
0.00 |
5.53 |
Cash Management and FX |
5.37 |
5.08 |
5.46 |
-0.09 |
5.17 |
Client Service |
5.84 |
5.64 |
5.84 |
0.00 |
5.76 |
Data Services |
5.51 |
5.22 |
5.44 |
0.07 |
5.44 |
Service Innovation |
5.46 |
5.14 |
5.43 |
0.03 |
5.39 |
Liquidity Management |
5.36 |
5.12 |
5.41 |
-0.05 |
5.27 |
Pricing |
5.04 |
4.88 |
5.20 |
-0.16 |
5.19 |
Regulation and Compliance |
5.52 |
5.29 |
5.57 |
-0.05 |
5.49 |
Relationship Management |
6.14 |
5.84 |
6.15 |
-0.01 |
5.84 |
Securities Lending |
4.80 |
4.8 |
5.17 |
-0.36 |
4.97 |
Technology |
5.08 |
4.97 |
5.33 |
-0.24 |
5.33 |
Average |
5.47 |
5.24 |
5.55 |
-0.08 |
5.49 |
Fall 2024 globalcustodian . com 67