[ O U T S O U R C E D T R A D I N G S U R V E Y ]
BNP Paribas
BNP Paribas |
2024 |
2023 |
Global Average |
Difference with Global |
Coverage |
5.91 |
6.33 |
6.21 |
-0.30 |
Execution |
6.00 |
6.53 |
6.22 |
-0.22 |
Operations and Post-Trade |
5.91 |
6.33 |
6.23 |
-0.32 |
Client Service and Relationship Management |
5.91 |
6.47 |
6.28 |
-0.38 |
Trade Decision Support |
5.64 |
6.20 |
5.91 |
-0.27 |
IPO Process and Allocations |
5.20 |
- |
5.33 |
-0.13 |
Onboarding |
6.00 |
6.13 |
6.09 |
-0.09 |
Service Level Factors |
5.73 |
- |
6.16 |
-0.43 |
Cost vs Value |
5.27 |
6.27 |
5.97 |
-0.70 |
Average |
5.73 |
6.32 |
6.04 |
-0.31 |
It has been an eventful 12 months for BNP Paribas , with numerous changes defining its outsourced trading strategy . These have been influenced by an increase in competition and new players in the outsourced trading industry . With a strong focus on the US and Canadian markets and the move towards the T + 1 settlement cycle , it seems like changes have been plentiful . In line with the new T + 1 standards , BNP is looking to allow its clients to integrate execution and middle-office functions into a single end-to-end cycle – with order and processing resulting in trade on the same day . Of course , this isn ’ t the only change the bank has made over the last year , having extended its services to OTC derivatives instruments , adapting to insurers unit-linked needs and the market reach of its Matched Principal model . Overall , it would seem that BNP Paribas ’ clients are happy with their provider . Notably , over half of respondents rated BNP as either Excellent or Very Good ( 57 %) - See Chart 1 . In fact , when asked for additional comments , one respondent praised BNP for being
Chart 1
“ a solid partner … attentive to their customers ’ needs ”. When it comes to the overall average score , BNP sits just under the global average , with its category scores across the board , remaining strong . Taking the top spot jointly are Execution ( 6.00 ) and Onboarding ( 6.00 ), both rated Very Good ( 6.00 – 6.99 ). Execution has been praised by one client for recent updates – “ Broker / execution provider panel has been updated / increased
36 // Outsourced Trading Handbook // 2024