SRP Europe Awards Report 2022
SRP Europe Awards Report 2022 Editorial: Amélie Labbé, Pablo Conde and Marc Wolterink Data: Vesela Krastanova and Gabriela Petrova If you are interested in having a similar bespoke report produced for your organisation, please contact Reihaneh Fakhari at +44 (0)20 7779 8220 or email reihaneh@structuredretailproducts.com
1
SRP Europe Awards Report 2022
Structured Retail Products (SRP), part of the Euromoney group of companies, is a news, data and research company based in London, Hong Kong, Sofia and New York, providing research and training services related to all aspects of structured products.
This report is copyright © 2022 Structured Retail Products Limited. All rights reserved. Reproduction and distribution of this report in any form without prior written permission is strictly prohibited.
Indemnity
The information contained herein has been obtained from sources believed to be reliable. SRP disclaims all warranties as to the accuracy, completeness or adequacy of such information. Use of this report is at your sole risk and SRP accepts no responsibility for any problems or incidents arising from its use.
Acknowledgements
This report would not have been possible without the support of the structured products industry across Europe which participated in the survey during November 2021, and whose data underpins this report.
Manufacturer Awards
Copyright information
• It may not be sold for commercial gain, either in part or in its entirety. • It may not be photocopied or printed for multiple use, except within the organisation for which it was purchased. • It may not be distributed electronically or otherwise in a manner other than that described above.
Europe Summary
Founded in 2001, SRP also owns and maintains the specialist industry website StructuredRetailProducts.com. The site was launched in January 2003, and has become the leading online information resource for the global retail structured products industry. With over 3,000 registered users and 33.8 million product listings (as of March 2022), the website is the primary information source for a wide range of businesses involved in the manufacture and distribution of structured investment products globally.
Furthermore
Introduction
1.1 Introduction
Distributor Awards Awards Results Appendix
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SRP Europe Awards Report 2022
1.2 Scope Introduction
This report covers the manufacture and distribution of structured products in all forms – including wrappers such as funds, notes, bonds, certificates, deposits and life assurance – and usually linked to equities, foreign exchange, commodities, credit and interest rate underlyings.
Europe Summary
It presents information on structured retail products markets across Europe. For the purposes of this report, a structured product is an investment product which provides a predefined return linked to the price of one or more underlying assets.
Manufacturer Awards
These are usually financial asset prices, rates or indices but, in rare cases, can be the outcome of sporting or other events. The product can usually be broken down into a number of separate financial instruments, one of which is usually a derivative product. Where a derivative is not used, the product will use a derivatives-based investment strategy or computation to provide the return.
Although we exclude simple warrants, listed options and futures, and delta one products, such as tracker funds, exchange-traded funds and notes, reference to these products may be made where relevant. The report is based on a quantitative and qualitative analysis. SRP surveyed 704 structured products distributors across the European region in November 2021, collecting data on structured product manufacturers from the point of view of their distributor clients. The results from the survey form the basis of this report. Details of the quantitative and qualitative analyses are available in the Methodology section of this report.
The report provides the following information: 1. scope, methodology and management summary of the report’s main findings; 2. analysis of the structured products market in the European region based on survey responses; 3. separate analysis of the manufacturers by asset class; 4. analysis of top distributors’ awards.
Distributor Awards Awards Results Appendix
3
SRP Europe Awards Report 2022
This includes votes cast by distributors that are part of banking groups that use their parent group for 100% of their activity and internal structuring desks. In addition, votes were not included in the survey where:
Part 1 – Quantitative
• Providers voted for themselves. • SRP could not confirm the identity of the respondent. • A respondent voted more than once and SRP could not resolve the duplication.
In November 2021, SRP surveyed European structured products distributors, receiving 704 responses. The survey comprises three areas of investigation:
We asked respondents to the survey to specify up to three investment banks that they use for hedging purposes for each asset class in which they are, and to specify the volume of business for that asset class and the percentage split by bank.
Part 2 - Qualitative
• price competitiveness; • understanding client needs and aftersales support; and • innovation and structuring capability.
Captive votes and those representing internal transaction flows were excluded from the results.
Distributor Awards
Part 3 - Data validation
For the purpose of this report, the scores for each main service category for the individual banks are calculated by averaging. Service scores are, therefore, suggestive of the level of service that a client might expect to receive when working with an investment banking counterparty.
Manufacturer Awards
The respondents were then asked to rank the investment banks they dealt with for each asset class as 1, 2 or 3 (where 1 = below average, 2 = average and 3 = above average), according to three main service categories:
The survey results underpinned the EMEA Structured Products & Derivatives Awards 2022, which were handed out on 23 March 2022 during the 19th Annual Europe Structured Products & Derivatives Conference.
Europe Summary
Description of the survey
Introduction
1.3 Methodology
Awards Results Appendix
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SRP Europe Awards Report 2022
2.0 Issuance and volumes between 2018-2021 Introduction
Outstanding - product issuance & sales volume 600
140000
500
120000 100000
400
80000
Europe Summary
300 60000 200
40000
100
20000
0
0 End of 2018
End of 2019
End of 2020
Total volumes (US$bn) (LHS)
End of 2021
Total issues (RHS)
Manufacturer Awards
Market share by total sales in the period 2018-2021 100% 90% 80% 70% 60%
Distributor Awards
50% 40% 30% 20% 10% 0% 2018
2019 DACH
Italy
Iberia
2020 France
Benelux
CEE
UK & Ireland
2021 Nordics
Others
Awards Results
Market by total sales (US$bn) in the period 2018 - 2021 50 45 40 35 30
Appendix
25 20 15 10 5 0 DACH
Italy
Iberia
France 2018
Benelux 2019
CEE 2020
2021
UK&Ireland
Nordics
Others
5
SRP Europe Awards Report 2022
Which of the following investment themes will be the most prominent over the next 12 months?
Volatility - based investments 9%
Other 1%
Equity - Emerging Markets 5%
Awards Results
to a total of 22%. Appetite for Volatility-based investments also increased moderately from 7% to 9% in 2021. Credit remains a secondary option for the second year in a row, taking up 4% of the total as opposed to 13% in 2019 and only 5% in 2020. Decrement indices have been growing with a steady 2% per year since 2019 reaching 8% in this year’s edition.
Distributor Awards
The most preferred investment theme for yet another year, ESG, fell from 48% as a share in 2021 to 39% this year, giving way to Proprietary/ Custom Indices whose share increased sixfold to 12% in this year’s edition. Equity in Emerging markets dropped from 11% to only 5% this year. Equities in the Developed Markets, however kept their share and even slightly increased it by 2%
Equity - Developed markets 22%
Manufacturer Awards
Evironmental Social Governance (ESG) 39%
Decrement indices 8%
Europe Summary
Proprietary/ Custom Indices 12%
Credit 4%
Introduction
3.0 Trends & predictions
Appendix
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SRP Europe Awards Report 2022
Introduction
What will the most popular payoffs in your market be over the next 12 months, and why? Worst of option 2% Shark Fin 2% Reverse Convertible 7%
Accrual 3%
Europe Summary
Range 1% Protected Tracker 5%
Other 1% Dual Currency 2%
Autocallable 64%
Manufacturer Awards
Digital 11%
Callable 3%
Distributor Awards Awards Results
The Autocallable payoff structure ranked number one for yet another year among future payoffs, according to 64% of the respondents that took part in the SRP European 2022 Awards Survey (surpassing last year’s result of 47% and even 2020’s - 59%). The Autocallable structure will be the most demanded by investors in Italy as well in the DACH region, France and UK (with France and Switzerland - making up 40% of the
total votes) as usual. This year’s Awards Survey marks a significant drop in preference towards the Reverse Convertible structure, traditionally taking up the second place in the ranking. Its share fell from 14% in 2021 to only 7% in this year’s edition. The Worst of option structure is expected to decrease its share fourfold compared to last year. There is no considerable change in the preference towards the Digital structure since last year.
Appendix
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SRP Europe Awards Report 2022
Introduction
4.0 Manufacturer awards Manufacturer awards are calculated on the basis of three factors: • annual sales as in SRP’s database in the year to the end of September 2021 (50% weighting); and • survey score with a 50% weighting. The survey score is based on the average rating across various criteria given to each contender by the survey respondents.
Europe Summary
Best House, Europe Market share by volume
Survey Average Score UniCredit 7% Barclays Société Générale 20%
Leonteq Leonteq 2% Société Générale BNP Paribas 8%
UniCredit
Barclays 13%
0
0.5
1
1.5
2
2.5
3
1
1.5
2
2.5
3
Market share by volume
Distributor Awards
Best House, Autocall Survey Average Score Barclays 11% Barclays BNP Paribas 10% Mediobanca 2%
Others 41%
BNP Paribas
Mediobanca
UniCredit 10%
UniCredit 0
0.5
Awards Results
Société Générale Société Générale 26%
Manufacturer Awards
Others 50%
BNP Paribas
Appendix
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SRP Europe Awards Report 2022
Best House, ESG Introduction
Survey Average Score
Market share by volume BNP Paribas 5% DekaBank 10%
Others 24%
BNP Paribas
DekaBank
Société Générale
Europe Summary
Leonteq 29%
Natixis
Leonteq
Société Générale 24% Natixis 8%
0
0.5
Manufacturer Awards
1
1.5
2
2.5
3
1
1.5
2
2.5
3
Best House, Equity Survey Average Score
Market share by volume Barclays 10% BNP Paribas 9% Leonteq 2%
Barclays
BNP Paribas
Leonteq
Distributor Awards
Others 54% Société Générale 17%
Société Générale
UniCredit 0
UniCredit 8%
0.5
Awards Results
Best House, MEA Survey Average Score
Market share by volume
ABSA 6%
Others 5%
UBS 5%
Nedbank 1%
ABSA First Rand Merchant Bank (RMB)
Appendix
Investec 31%
Investec
Nedbank
First Rand Merchant Bank (RMB) 52%
UBS 0
0.5
1
1.5
2
2.5
3
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SRP Europe Awards Report 2022
Best House, France Survey Average Score Société Générale 24%
Introduction
Market share by volume
Amundi
BNP Paribas
Others 44%
Leonteq Securities
Natixis Leonteq Securities 1%
Société Générale
BNP Paribas 14%
Amundi 7%
0
0.5
1.5
2
2.5
3
1
1.5
2
2.5
3
1
1.5
2
2.5
3
Manufacturer Awards
1
Best House, Italy Market share by volume
Survey Average Score UniCredit Bank 12%
Others 24%
Mediobanca 7%
Europe Summary
Natixis 10%
BNP Paribas
Intesa Sanpaolo
Leonteq Securities
Mediobanca
BNP Paribas 19%
UniCredit Bank Intesa Sanpaolo 34%
0
0.5
Awards Results
Best House, UK and Ireland Market share by volume
Distributor Awards
Leonteq Securities 4%
Survey Average Score Société Générale 11% Barclays
Others 53%
Goldman Sachs 12%
Appendix
BNP Paribas 12%
BNP Paribas
Goldman Sachs
Société Générale
Barclays 12%
0
0.5
10
SRP Europe Awards Report 2022
Best House, Nordics Introduction
Survey Average Score
Market share by volume Goldman Sachs 16% EFG 1%
Danske Bank 18%
Others 49%
BNP Paribas
Credit Suisse
Danske Bank
Europe Summary
EFG
Credit Suisse 7% BNP Paribas 9%
Goldman Sachs 0
0.5
1
1.5
2
2.5
3
Manufacturer Awards
Best House, Germany and Austria Survey Average Score
Market share by volume UniCredit Bank 15% Société Générale 3% Leonteq Securities 1%
Others 38%
DekaBank
LBBW
Leonteq Securities
Distributor Awards
LBBW 17%
Société Générale
UniCredit Bank DekaBank 26%
0
0.5
Awards Results Appendix
1
1.5
2
2.5
3
1
1.5
2
2.5
3
Best House, Eastern Europe Survey Average Score
Market share by volume UniCredit Bank 11% Société Générale 2% Leonteq Securities 1%
Others 56%
Goldman Sachs 10%
BNP Paribas
Goldman Sachs
Leonteq Securities
Société Générale BNP Paribas 20%
UniCredit Bank 0
0.5
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SRP Europe Awards Report 2022
Best House, Benelux Survey Average Score
Introduction
Market share by volume UniCredit Bank 11% Société Générale 4% Leonteq Securities 1% BNP Paribas 8%
Leonteq Securities
Société Générale
BNP Paribas
UniCredit Bank Belfius Bank 30%
0
0.5
1.5
2
2.5
3
1
1.5
2
2.5
3
Manufacturer Awards
1
Best House, Yield Enhancement Market share by volume
Survey Average Score Société Générale 9% La Banque Postale 5%
Europe Summary
Others 46%
Belfius Bank
Amundi
BNP Paribas Intesa Sanpaolo 24%
Intesa Sanpaolo
La Banque Postale
Société Générale Amundi 11%
BNP Paribas 7%
0
0.5
Awards Results
Best House, Capital Protected Market share by volume
Survey Average Score UniCredit Bank 7%
Santander 22%
Intesa Sanpaolo
Mediobanca
Raiffeisen Centrobank Raiffeisen Centrobank 1% Mediobanca 1% Intesa Sanpaolo 9%
Appendix
Others 61%
Distributor Awards
Others 44%
Santander
UniCredit Bank 0
0.5
1
1.5
2
2.5
3
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SRP Europe Awards Report 2022
5.0 Distributor awards Introduction Europe Summary
The award for Best Distributor is based on the sales and performance data per product distributed by the buyside between 1 October 2020 and 30 September 2021. The strike date is relevant for best sales and the maturity date is relevant for best performance. Both results are amalgamated to go towards the best distributor award. Sales volume is the total actual sales invested rather than the notional amount, and performance is the annualised return an investor would have received with a buy-and-hold approach from the strike date until maturity for a product. Each product’s performance will be weighted according to its sales volume to give a weighted average performance of the distributor’s portfolio of maturing products for the period.
Best Distributor, Europe Outstanding - product issuance & sales volume
Sales volume & issuance
Manufacturer Awards
600
120000
120
70000
500
100000
100
60000
400
80000
80
300
60000
60
200
40000
40
100
20000
20
0
0
0 End of 2018
End of 2019
End of 2020
Total Volumes (US$bn) (LHS)
End of 2021
50000 40000 30000 20000 10000 0 2018
Total issues (RHS)
2019
2020
Total Volumes (US$bn) (LHS)
Distributor Awards
Top 5 distributors by sales (US$bn)
2021 Total issues (RHS)
Top 5 distributors by weighted-average performance (%)
100%
100%
80%
80%
60%
60%
40%
40%
20%
20%
0%
0%
Awards Results
Intesa Sanpaolo
UniCredit Bank
BNP Paribas
LCL
Hedios
Hedios
LCL
BNP Paribas
UniCredit Bank
Intesa Sanpaolo
Appendix
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SRP Europe Awards Report 2022
Best Distributor, Capital-Protected
250 200
16000
35
3000
14000
30
2500
12000
25
10000
150
8000 100
6000
0 End of 2018
End of 2019
End of 2020
Total Volumes (US$bn) (LHS)
1500
15
1000
10
2000
5
0
0
End of 2021
2000
20
500 0 2018
Total issues (RHS)
2019
2020
Total Volumes (US$bn) (LHS)
Top 5 distributors by sales (US$bn)
2021 Total issues (RHS)
Top 5 distributors by weighted-average performance (%) 100%
80%
80%
60%
60%
40%
40%
20%
20% 0%
0% Santander
UniCredit Bank
Belfius Bank
BNP Paribas
Santander
Deutsche Bank
UniCredit Bank
Belfius Bank
BNP Paribas
Deutsche Bank
Outstanding - product issuance & sales volume
Sales volume & issuance
310
140000
80
70000
300
120000
70
60000
290
100000
280
80000
270
60000
260
60
50000
50
40000
40
30000
30 20
20000
240
20000
10000
230
0
10 0
End of 2019
End of 2020
Total Volumes (US$bn) (LHS)
0 2018
End of 2021
Total Volumes (US$bn) (LHS)
Total issues (RHS)
Top 4 distributors by sales (US$bn)
2019
2020
2021 Total issues (RHS)
Top 4 distributors by weighted-average performance (%)
100%
Awards Results
250
40000
End of 2018
Distributor Awards
Best Distributor, Yield Enhancement
Manufacturer Awards
100%
Europe Summary
4000
50
Sales volume & issuance
Introduction
Outstanding - product issuance & sales volume
1 0.8
60%
0.6
40%
0.4
20%
0.2
0%
Appendix
80%
0 BNP Paribas
UniCredit Bank
LCL
Citigroup
Citigroup
BNP Paribas
LCL
UniCredit Bank
14
SRP Europe Awards Report 2022
Best Distributor, Benelux Introduction
Outstanding - product issuance & sales volume 80
6000
70
5000
60
4000
50 40
3000
30
2000
20
1000
10
Europe Summary
0
End of 2018
End of 2019
End of 2020
Total Volumes (US$bn) (LHS)
End of 2021
0
Sales volume & issuance 9
3000
8
2500
7 6
2000
5
1500
4 3
1000
2
500
1
0
0 2018
Total issues (RHS)
2019
2020
Total Volumes (US$bn) (LHS)
Top 5 distributors by sales (US$bn)
2021 Total issues (RHS)
Top 5 distributors by weighted-average performance (%)
100%
100%
80%
80%
Manufacturer Awards
60%
60%
40%
40%
20%
20% 0%
0% Belfius
Deutsche Bank
KBC
Van Lanschot Bankiers
Deutsche Bank
BNP Paribas
Van Lanschot Bankiers
BNP Paribas
Belfius
KBC
Distributor Awards
Best Distributor, Eastern Europe Outstanding - product issuance & sales volume
Sales volume & issuance
Awards Results
18
4500
3.5
1800
16 14
4000 3500
3
1600
12
3000
10
2500
2
1000
8
2000
800
6
1500
1.5
4
1000
2
500
0.5
0
0
0 End of 2018
End of 2019
End of 2020
Total Volumes (US$bn) (LHS)
End of 2021
1400
2.5
1200
600
1
Total issues (RHS)
400 200 2018
2019
2020
Total Volumes (US$bn) (LHS)
Top 5 distributors by sales (US$bn)
2021
0
Total issues (RHS)
Top 5 distributors by weighted-average performance (%) 100%
100%
Appendix
80%
80%
60%
60%
40%
40%
20%
20% 0%
0% Bank Millennium
ČSOB
Česká Spořitelna
Santander Bank Polska
Cyrrus
Cyrrus
Česká Spořitelna
Santander Bank Polska
Bank Millennium
ČSOB
15
SRP Europe Awards Report 2022
Best Distributor, Germany & Austria Sales volume & issuance
60000
25
25000
50000
20
20000
80
40000
15
15000
60
30000
40
20000
10
10000
20
10000
5
5000
0
0
0
End of 2018
End of 2019
End of 2020
Total Volumes (US$bn) (LHS)
End of 2021
0 2018
Total issues (RHS)
2019
2020
Total Volumes (US$bn) (LHS)
Top 5 distributors by sales (US$bn)
2021 Total issues (RHS)
Top 5 distributors by weighted-average performance (%)
Europe Summary
120 100
Introduction
Outstanding - product issuance & sales volume
100%
100%
80% 60%
40%
40%
20%
20% 0%
0% DekaBank
DZ Bank
UniCredit Bank
Landesbank BW
Raiffeisen Centrobank
Raiffeisen Centrobank
UniCredit Bank
Landesbank BW
DekaBank
DZ Bank
Outstanding - product issuance & sales volume 7000
3.5
1400
6000
3
1200
5000
2.5
1000
4000
2
800
3000
1.5
600
2000
1
400
1000
0.5
200
0 End of 2018
End of 2019
End of 2020
Total Volumes (US$bn) (LHS)
0 2020
2021 Total issues (RHS)
Top 5 distributors by weighted-average performance (%) 100%
80%
80%
60%
60%
40%
40%
20%
20%
0%
UB Omaisuudenhoito
Appendix
100%
Garantum Alexandria Fondkommission Pankkiiriliike
2019
Total Volumes (US$bn) (LHS)
Total issues (RHS)
Top 5 distributors by sales (US$bn)
0 2018
End of 2021
0% Strivo
Nordea
UB Omaisuudenhoito
Alexandria Pankkiiriliike
Garantum Fondkommission
Awards Results
20 18 16 14 12 10 8 6 4 2 0
Sales volume & issuance
Distributor Awards
Best Distributor, Nordics
Manufacturer Awards
80% 60%
Strivo
Nordea
16
SRP Europe Awards Report 2022
Best Distributor, UK & Ireland Introduction
Outstanding - product issuance & sales volume 25 20
3500
30
3000
25
2500
15
2000
10
1500 1000
5
Europe Summary
0 End of 2018
End of 2019
End of 2020
Total Volumes (US$bn) (LHS)
Sales volume & issuance 700 600
20
500
15
400 300
10
500
5
0
0
End of 2021
800
200 100 0 2018
Total issues (RHS)
2019
2020
Total Volumes (US$bn) (LHS)
Top 4 distributors by sales (US$bn)
2021 Total issues (RHS)
Top 4 distributors by weighted-average performance (%)
100%
100%
80%
80%
Manufacturer Awards
60%
60%
40%
40%
20%
20% 0%
0% Walker Crips Structured Investments
Meteor Asset Management
Mariana Capital Markets
Walker Crips Structured Investments
BCP Asset Management
Meteor Asset Management
Mariana Capital Markets
BCP Asset Management
Distributor Awards
Best Distributor, France Outstanding - product issuance & sales volume
Sales volume & issuance
100
6000
30
3000
80
5000
25
2500
4000
20
2000
3000
15
1500
2000
10
1000
20
1000
5
500
0
0
60 40
Awards Results
End of 2018
End of 2019
End of 2020
Total Volumes (US$bn) (LHS)
End of 2021
0
Total issues (RHS)
2018
2019
2020
Total Volumes (US$bn) (LHS)
Top 5 distributors by sales (US$bn)
2021
0
Total issues (RHS)
Top 5 distributors by weighted-average performance (%)
100%
100%
80%
80%
Appendix
60%
60%
40%
40%
20%
20% 0%
0% LCL
Crédit Agricole
Société Générale
BNP Paribas/ Privalto
Hedios
Hedios
Société Générale
BNP Paribas/ Privalto
LCL
Crédit Agricole
17
SRP Europe Awards Report 2022
Best Distributor, Italy
100
6000
80
5000 4000
60
Sales volume & issuance 25
2500
20
2000
15
1500
10
1000 500
Introduction
Outstanding - product issuance & sales volume
3000 40
2000 1000
5
0
0
0
End of 2018
End of 2019
End of 2020
Total Volumes (US$bn) (LHS)
End of 2021
Total issues (RHS)
Top 5 distributors by sales (US$bn)
2018
2019
2020
Total Volumes (US$bn) (LHS)
2021
0
Total issues (RHS)
Top 5 distributors by weighted-average performance (%) 100%
80%
80%
60%
60%
40%
40%
20%
20% 0%
0% Intesa Sanpaolo
BNP Paribas
Leonteq Securities
Banca Generali
Mediobanca
Leonteq Securities
Banca Generali
Mediobanca
BNP Paribas
Intesa Sanpaolo
Manufacturer Awards
100%
Europe Summary
20
Distributor Awards Awards Results Appendix
18
SRP Europe Awards Report 2022
6.0 Shortlists Introduction
6.1 Manufacturers
Europe Summary Manufacturer Awards Distributor Awards
Awards Results
Best House, Europe Barclays BNP Paribas Leonteq Société Générale UniCredit
Best House, Autocall Barclays BNP Paribas Mediobanca Société Générale UniCredit
Best House, MEA ABSA First Rand Merchant Bank Investec Nedbank UBS
Best House, ESG BNP Paribas DekaBank Leonteq Natixis Société Générale
Best House, Equity Barclays BNP Paribas Leonteq Société Générale UniCredit
Best House, Warrants BNP Paribas Leonteq Société Générale UBS UniCredit
Best House, France Amundi BNP Paribas Leonteq Securities Natixis Société Générale
Best House, Nordics BNP Paribas EFG Danske Bank Goldman Sachs Credit Suisse
Best House, BeNeLux Belfius Bank BNP Paribas Leonteq Securities Société Générale UniCredit Bank
Best House, Italy BNP Paribas Intesa Sanpaolo Leonteq Securities Mediobanca UniCredit Bank
Best House, Germany & Austria DekaBank LBBW Leonteq Securities Société Générale UniCredit Bank
Best House, UK & Ireland Barclays BNP Paribas Goldman Sachs Société Générale
Best House, Eastern Europe BNP Paribas Goldman Sachs Leonteq Securities Société Générale UniCredit Bank
Regional
Appendix
19
SRP Europe Awards Report 2022
Introduction
6.2 Distributors
Best Distributor, Capital Protected Belfius Bank BNP Paribas Deutsche Bank Santander UniCredit Bank
Best Distributor, Germany & Austria DekaBank DZ Bank Landesbank BW Raiffeisen Centrobank UniCredit Bank
Best Distributor, Switzerland Julius Baer Leonteq Securities Raiffeisen Switzerland Cooperative UBS Vontobel
Best Distributor, Yield Enhancement BNP Paribas Citigroup LCL UniCredit Bank
Best Provider, Nordics Alexandria Markets Garantum Fondkommission Nordea Strivo UB Omaisuudenhoito
Best Private Bank BNP Paribas Leonteq Securities Swiss Life Banque Privée
Best Distributor, Benelux Belfius BNP Paribas Deutsche Bank KBC Van Lanschot Bankiers
Best Distributor, UK & Ireland BCP Asset Management Mariana Capital Markets Meteor Asset Management Walker Crips Structured Investments
Distributor Awards
Best Distributor, Italy Banca Generali BNP Paribas Intesa Sanpaolo Leonteq Securities Mediobanca
Manufacturer Awards
Best Distributor, Eastern Europe Bank Millennium Česká Spořitelna ČSOB Cyrrus Santander Bank Polska
Europe Summary
Best Distributor, Europe BNP Paribas Hedios Intesa Sanpaolo LCL UniCredit Bank
Best Distributor, Czech Republic Česká Spořitelna ČSOB Cyrrus UniCredit Bank
Best Distributor, France BNP Paribas/Privalto Crédit Agricole Hedios LCL Société Générale
Best Distributor, Belgium Belfius BNP Paribas Crelan Deutsche Bank KBC
Best Distributor, Finland Alexandria Markets Danske Bank Nordea SIP Nordic Fondkommission
Best Distributor, Germany DekaBank DZ Bank Landesbank BW Raiffeisen Centrobank UniCredit Bank
Appendix
Best Distributor, Austria BNP Paribas Erste Group Bank Raiffeisen Centrobank UniCredit Bank Vontobel
Awards Results
National awards
20
SRP Europe Awards Report 2022
Introduction
National awards (continued)
Europe Summary
Best Distributor, Ireland BCP Asset Management Broker Solutions Cantor Fitzgerald Ireland Moloney Mortgages Pensions and Investments
Best Distributor, Portugal Banco BIC Banco Invest Banco Santander Totta Caixa Geral de Depósitos Novo Banco
Best Distributor, Italy Banca Generali BNP Paribas Intesa Sanpaolo Leonteq Securities Mediobanca
Best Distributor, Slovakia ČSOB Slovenská sporiteľňa UniCredit Bank
Manufacturer Awards
Best Distributor, Norway Garantum Fondkommission Nordea SIP Nordic Fondkommission
Distributor Awards
Best Distributor, Poland Alior Bank Bank Millennium BNP Paribas Bank Polska Santander Bank Polska UniCredit Bank
Best Distributor, Spain Banco Sabadell Banco Santander Bankinter BBVA Best Distributor, Sweden Garantum Fondkommission Nordea Bank Sweden Strivo
Best Distributor, Switzerland Julius Baer Leonteq Securities Raiffeisen Switzerland Cooperative UBS Vontobel Best Distributor, The Netherlands ING Bank Kempen & Co Leonteq Securities Best Distributor, UK Mariana Capital Markets Meteor Asset Management Walker Crips Structured Investments Best Distributor, South Africa Investec
Awards Results Appendix
21
SRP Europe Awards Report 2022
Best Issuance Platform BNP Paribas - Smart Derivatives Leonteq – LynQs/Constructor Privatam Parity Société Générale - SG Markets SP Vontobel – Deritrade
Awards Results
Best Pricing and Analytics Provider Bloomberg SIX Financial Information Smarttra.de SuperDerivatives Thomson Reuters
Best RegTech Provider Delta Capita Lexifi LPA/Modelity Smarttra.de WallStreetDocs
Distributor Awards
Best Structured Product and Derivatives Exchange Borsa Italiana Börse Stuttgart Euronext Luxembourg Stock Exchange SIX Swiss Exchange
Best Law Firm Allen & Overy Baker McKenzie Clifford Chance Linklaters Simmons & Simmons
Manufacturer Awards
Best Smart Beta Index Provider MSCI Nasdaq OMX S&P Dow Jones Indices Solactive Stoxx/Qontigo
Best Trade Association Association Française des Produits Dérivés et de Bourse (AFPDB) Associazione Italiana Certificati e Prodotti di Investimento (ACEPI) Deutscher Derivate Verband (DDV) European Structured Investment Products Association (EUSIPA) Schweizerischer Verband fur Strukturierte Produkte (SVSP)
Europe Summary
Best Index Provider FTSE Russell MSCI S&P Dow Jones Indices Solactive Stoxx/Qontigo
Introduction
6.3 Service Providers
Appendix
22
SRP Europe Awards Report 2022
7.0 Awards Results Introduction
7.1 Manufacturers Awards
Europe Summary
Best House, Europe Société Générale
Best House, Equity Barclays
Best House, ESG Société Générale
Best House, MEA First Rand Merchant Bank
Best House, Autocall UniCredit
Best House, Warrants Société Générale
Regional Manufacturer Awards
Best House, France Société Générale
Best House, Nordics Danske Bank
Best House, Italy Intesa Sanpaolo
Best House, Germany & Austria DekaBank
Best House, UK and Ireland Barclays
Best House, BeneLux Belfius Bank
Distributor Awards
7.2 Distributor Awards
Awards Results Appendix
Best Distributor, Europe BNP Paribas
Best Distributor, Germany & Austria DekaBank
Best Distributor, Capital Protected Santander
Best Distributor, Nordics Alexandria Pankkiiriliike
Best Distributor, Yield Enhancement BNP Paribas
Best Distributor, UK & Ireland Walker Crips Structured Investments
Best Private Bank BNP Paribas
Best Distributor, Italy Leonteq Securities
Best Distributor, Benelux Belfius
Best Distributor, Switzerland UBS
Best Distributor, Eastern Europe ČSOB
23
SRP Europe Awards Report 2022
Introduction
7.3 Service Provider Awards Best Trade Association European Structured Investment Products
Best Issuance Platform Leonteq – LynQs/Constructor
Best Pricing and Analytics Provider Bloomberg
Best Smart Beta Index Provider Solactive
Best Law Firm Allen & Overy
Best Structured Product and Derivatives Exchange Six Swiss Exchange
Best RegTech Provider LPA/Modelity
Europe Summary
Best Index provider S&P Dow Jones Indices
Manufacturer Awards
7.4 Other Awards Best Structured Products Fund LCL Impact Social 2021 (Amundi)
Index of the Year Euro iSTOXX Ocean Care 40
Most Innovative product Marex’s Bitcoin Cash & Carry Certificate
Best Structured Product Technological Solution Argo (Lynceus Partners)
Personality of the Year Alessandro Ricci
Distributor Awards
Best Educational Initiative Structured products ‘on the fly’ videos (BBVA)
Deal of the Year Société Générale / DS Investment Solutions Awards Results Appendix
24
SRP Europe Awards Report 2022
Introduction
7.5 Country Awards
Europe Summary Manufacturer Awards Distributor Awards
Awards Results Appendix
Austria Best Distributor Raiffeisen Centrobank Best Performance Raiffeisen Centrobank
Poland
Belgium Best Distributor Belfius Best Performance Deutsche Bank
Portugal
Czech Republic Best Distributor UniCredit Bank Best Performance UniCredit Bank
Slovakia
Finland Best Distributor Alexandria Markets Best Performance Nordea
Spain
France
Sweden
Best Distributor LCL Best Performance Hedios
Best Distributor Garantum Fondkommission Best Performance Garantum Fondkommission
Germany
Switzerland
Best Distributor DekaBank Best Performance Raiffeisen Centrobank
Best Distributor UBS Best Performance UBS
Ireland
The Netherlands
Best Distributor Broker Solutions Best Performance Cantor Fitzgerald Ireland
Best Distributor Kempen & Co Best Performance Leonteq Securities
Italy
UK
Best Distributor Leonteq Securities Best Performance Leonteq Securities
Best Distributor Best Performance
Norway
South Africa
Best Distributor Garantum Fondkommission Best Performance Garantum Fondkommission
Best Distributor Investec Best Performance Investec
Best Distributor UniCredit Bank Best Performance Banco Invest
Best Distributor Banco Invest Best Performance Banco Invest
Best Distributor ČSOB Best Performance ČSOB
Best Distributor Banco Sabadell Best Performance Banco Sabadell
Walker Crips Structured Investments Walker Crips Structured Investments
25
SRP Europe Awards Report 2022
Introduction
8.0 Appendix Analysis of respondents Bulgaria 4% Other 14%
Finland 2%
USA 2%
France 19% Europe Summary
UK 7%
Germany 7%
Italy 7% Luxembourg 2%
Manufacturer Awards
Switzerland 25%
Monaco 3%
Spain 2% Portugal 2%
Country
Number of Respondents
Country
Number of Respondents
Australia
1
Ireland
4
Slovakia
3
Austria
4
Israel
4
South Africa
2
Belgium
3
Italy
55
Spain
17
Brazil
2
Japan
1
Sweden
1
Bulgaria
27
Jersey
1
Switzerland
196
Chile
8
Luxembourg
13
Turkey
1
Croatia
4
Malaysia
2
Ukraine
1
Czech Republic
2
Monaco
25
UAE
2
Finland
14
Netherlands
9
United Kingdom
51
France
148
Panama
4
United States
6
Germany
56
Peru
16
Uruguay
7
Gibraltar
1
Poland
11
USA
13
Greece
1
Portugal
13
Venezuela
1
Hong Kong
5
Romania
16
Total
Hungary
5
Russia
9
India
1
Singapore
4
770
Appendix
Number of Respondents
Awards Results
Country
Distributor Awards
Romania 2%
Peru 2%
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