BNP Paribas wins Global Capital’s Interest Rate Derivatives Awards

BNP Paribas' interest rate business showed outstanding performance in supporting its clients during the pandemic winning industry plaudits.

BNP Paribas has won Interest Rate Derivatives House of the Year at the Global Capital Derivatives Awards 2020, shortly after winning the Americas Interest Rate Derivatives House of the Year in July. The combined wins not only demonstrate BNP Paribas’ leading position in rates in its home markets, but sees the bank recognised for its global reach, and the growth of its powerful Americas franchise in particular.

The awards, judged by the editors of GlobalCapital along with market participants, recognise banks that have showed growth and innovation in the global derivatives market over the past year. BNP Paribas’ unrivalled continuous support to its clients throughout the pandemic was highlighted by GlobalCapital, as well as its digital prowess and the ground-breaking sustainable rates trades the bank made this year. According to the editors, the bank has placed itself as a European leader of the derivatives market, through market share growth – especially in the UK where its rates business more than doubled market share.

More than a European leading bank, the awards recognise BNP Paribas’ emergence as a global player thanks to the growth of its US rates franchise, where it grew market share in options and in structured products, propelling it to be the leading non-US or quasi-US rates derivatives house, while fronting the critically important transition to SOFR. This outstanding performance in the US market was recognised by GlobalCapital winning us Americas Interest Rate Derivatives House of the Year.

Similarly in Europe, BNP Paribas is leading the discussion about LIBOR reform, helping clients navigate the industry’s shifts. Close client support throughout the first phase of lockdown measures led the bank reach new clients and gain market share organically.

Finally, the crisis didn’t stop BNP Paribas from continuing to drive a step change in sustainability. In addition to its social bond strengths, the bank executed the first ESG interest rate swap hedge – adding a whole new sustainability element to its offering in Global Markets. This deal showed how BNP Paribas not only actively hedge interest rate risk but also simultaneously support climate actions and sustainability projects.