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.
