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Index ( NOMXN ) over the last year , there ’ s been positive news coming out of the region . At the time of writing there had been 20 %+ increase between September 2023 and September 2024 . Regulatory and market infrastructure talking points are top of mind for the Nordics , most notably T2S , CSDR and T + 1 . On the former , Sweden ’ s central bank , Riksbank , has said it will prioritise a transition to the Eurosystem ’ s payments settlement platform T2 ahead of a move to T2S , meaning it would likely complete its move to the latter around 2035 . The central bank decided that its preferred direction going forward is to use the Eurosystem ’ s platforms , however moving to both in parallel would not be beneficial . As a transition to the T2 platform takes around five years , this means that a transition to the T2S platform can only start around 2030 and be completed only in the mid-2030s , Riksbank said . Taking a look at the data , the Nordic overall average has seen an increase for a third year running , this year jumping nine basis points to reach 5.39 . Relationship Management ( 6.23 ) has the highest score this year , as well as the largest annual shift from 2023 – rising 50 basis points .

As well as beating the global average , the Nordics also beat the global average in three categories : Relationship Management ( 6.23 ), Account Management ( 5.89 ) and Asset Servicing ( 5.61 ). Additionally , 11 of the 13 categories are rated as Good or Very Good , with a significant majority of improving on their score from 2023 . When coming to look at the list of respondent priorities , it is Client Service which is rated as most important . Fortunately for providers in the Nordics , it would seem that their clients are more than happy with the service they are

1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th 11th 12th 13th

Respondent Priorities Client Service Asset Servicing Relationship Management Account Management Pricing Asset Safety and Risk Management Cash Management and FX Regulation and Compliance Liquidity Management Technology Data Services Service Innovation Securities Lending

receiving , with this category seeing an increase in ratings by 33 basis points in the last 12 months . Asset Servicing takes second place , which similarly has seen an uptick in its score in the last 12 months . Of course , it is SEB which dominates the Nordic markets , posting impressive results and seeing an increase in overall score for each market since 2023 .

78 Global Custodian Fall 2024