In Asia BNP Paribas has received top awards in the 2007 AsiaRisk Interdealer Survey, a poll which was voted by traders and dealers across Asia. The Bank’s corporate and investment banking division has taken the top spot in:
- Derivatives Dealer in Asia
- Credit Derivatives (Asia ex-Japan)
- Currency Derivatives (Asia ex-Japan)
- Interest Rate Derivatives (Asia ex-Japan)
The Bank has also garnered one of the top five positions in various categories and product breakdowns in this poll.
“BNP Paribas has built a solid track record of success in Asia in terms of expertise and platform as well as establishing a sterling reputation amongst the industry. The list of awards speaks for itself,” said Henri Foch, Head of Fixed Income Asia (ex-Japan).
According to AsiaRisk, “BNP Paribas has made it its mission to bring its global expertise to Asia in the past few years as well as to its handling of the market volatility in the wake of the US mortgage crisis in the past six months. It’s a mission that appears to be paying off, as the French bank unseated Deutsche Bank to top AsiaRisk’s Interdealer Survey 2007, a position that the German bank had held for the previous six years.”
“Given the uncertainty of the rate outlook and for central bank policies, BNP Paribas has been in the forefront of designing creative solutions to provide efficiency, liquidity and new revenue opportunities for clients in interest rate derivatives and we are pleased to be recognized by our fellow professionals in this year’s poll,” said Mr Foch.
“The year 2007 has clearly been a very volatile year for the global financial market. Despite the macro environment and intense competition, BNP Paribas has managed to sweep numerous awards and the number of accolades we won is a testament to the strategic input and superb management of our team. Our top rankings represent a mega leap from past years and clearly establish the Bank amongst the top three banks in Asia for these products. The strategic reorganization of some of its operations in 2004 has clearly borne fruit,” said Bertrand Lavigne, Head of Short Term Rates and FX, BNP Paribas Asia Pacific. “In fact, there are very few global banks with such a comprehensive set-up in Asia,” added Mr. Lavigne.
“We have established a strong platform over the past couple of years and our presence across the region has grown significantly. Going forward, we will continue to solidify our foothold in quality deliverables and maintain our lead by providing our clients with the most comprehensive range of products and innovative solutions,” said Mr. Foch.
“BNP Paribas has built its Asian platform on its traditional strength. Rolling out our global systems in every local market, applying the state-of-the-art risk control to Asian currencies, combining technical talents and local trading expertise, has been strategic options implemented and followed by the management consistently in the past five years. In 2007, we are reaping the benefits in terms of revenues and industry recognition. The combination of our large product offer and extensive country coverage makes us one of the most efficient trading organizations in Asia, and has enabled us to best serve our clients,” said Mathieu Gaveau, Head of Long Term Interest Rates and Options, BNP Paribas, Asia Pacific. “Now, our capacity to handle risk has grown tremendously, as we earned confidence in our modeling. Quality and stability of our trading teams and management are also critical to existing and future successes,” added Mr. Gaveau.
The AsiaRisk Interdealer 2007 poll is a reputable financial poll in the region. The poll was sent out in early October to over 1,200 dealers and brokers across Asia-Pacific, with a response rate of approximately 25%. The survey covered 108 derivatives categories across interest rates, foreign exchange, credit and equity derivatives. Participants were asked to vote for their top three derivatives dealers in order of preference in derivatives categories that they had traded over the course of the year. The voting is not based on market share and voters could choose a variety of criteria on which to base their choice, including pricing, liquidity provision, reliability, electronic trading capabilities etc.