Market Shares by Stock Exchange Turnover

Transcription

1 Market Shares by Stock Exchange Turnover in structured Securities Deutsche Bank remains market leader BNP Paribas takes third place in the leverage products category with capital protection (100 %) Capital Protection Products with Coupon Capital Protection Certificates Reverse Convertibles Credit Linked Notes STRUCTURED SECURITIES INVESTMENT PRODUCTS without capital protection (< 100 %) without Knock-Out Express Certificates Tracker Certificates Warrants Discount Certificates Bonus Certificates Outperformance and Capped Outperformance Certificates DDV Classification System LEVERAGE PRODUCTS Factor Certificates with Knock-Out Knock-Out Warrants CONTENTS Derivatives 3 Investment Products 4 Leverage Products 5 Investment Products with Capital Protection 6 Investment Products without Capital Protection 7 Leverage Products without Knock-Out 8 Leverage Products with Knock-Out 9 Uncapped Capital Protection Certificates 10 Capital Protection Products with Coupon 10 Credit Linked Notes 11 Reverse Convertibles 11 Discount Certificates 12 Express Certificates 12 Bonus Certificates 13 Tracker Certificates 13 Outperformance and Capped Outperformance Certificates 14 Warrants 14 Factor Certificates 15 Knock-Out Warrants 15 Deutsche Bank, Commerzbank and DZ BANK continued to head the issuer s ranking in January. Together they had a market share of 55.1 percent. Deutsche Bank extended its leading position in the investment products category. Its trading volume upped 1.7 percent to EUR million. This corresponded to a share of 29.4 percent of the market volume. Commerzbank took first place in the leverage products category again with a turnover of EUR million and a market share of 27.5 percent. BNP Paribas seized third place in the leverage products category. Its market share stood at 10 percent in January.

2 Deutsche Bank remains market leader BNP Paribas takes third place in the leverage products category The exchanges in Stuttgart and Frankfurt generated turnover of EUR 4.0 billion from trading in investment and leverage products in January There were slight shifts under the first five issuers in the market share based on exchange turnover claimed by issuers of structured securities. In January, Deutsche Bank held its position at the top of the issuers league table with a customer order volume of EUR million and a 24.0 percent market share. Commerzbank took second place. Its market share stood at 20.4 percent with an order volume of EUR million. Deutsche Zentral-Genossenschaftsbank (DZ BANK) ranked third again with a customer order volume of EUR million. This corresponded to a market share of 10.7 percent. Together, the top three issuers accounted for exchange trading turnover of EUR 2.2 billion equivalent to a market share of 55.1 percent. Investment products recorded a trading volume of EUR 1.9 billion in January. They accounted for 47.1 percent of the total turnover. Deutsche Bank ranked highest with a turnover from exchange trades of EUR million and a 29.4 percent market share. DZ BANK and Commerzbank swapped positions once again. DZ BANK took second place with EUR million. This gave it a 13.5 percent market share. Commerzbank followed in third place with a customer order volume of EUR million. Its market share was 12.4 percent. Turnover from leverage products totalled EUR 2.1 billion in January. Knock-Out Warrants, Warrants and Factor Certificates made up a 52.9 percent share of the total turnover figure.commerzbank took the top spot in the issuers ranking again with a trading volume of EUR million and a 27.5 percent share. Deutsche Bank came second with a trading volume of EUR million. This gave it a 19.3 percent market share. Third place went to BNP Paribas in January with a trading volume of EUR million and a 10.0 percent market share. n Deutscher Derivate Verband (DDV) Deutscher Derivate Verband (DDV), the German Derivatives Association, is the industry representative body for the 15 leading issuers of derivatives in Germany: BayernLB, BNP Paribas, Citigroup, Commerzbank, DekaBank, Deutsche Bank, DZ BANK, Goldman Sachs, Helaba, HSBC Trinkaus, HypoVereinsbank, LBBW, Société Générale, UBS and Vontobel. The Association s work is supported by nine sponsoring members, which include the Stuttgart and Frankfurt am Main stock exchanges, finance portals and service providers. Office Berlin, Pariser Platz 3, Berlin Office Frankfurt a.m., Feldbergstr. 38, Frankfurt a.m. Please address any queries to: Alexander Heftrich, Press Secretary phone: +49 (69) heftrich@derivateverband.de 2

3 Derivatives January n Deutsche Bank 961,371, % 2. n Commerzbank 816,904, % 3. n DZ BANK 426,833, % 4. n BNP Paribas 351,372, % 5. n HSBC Trinkaus 228,974, % 6. n Citigroup 226,184, % 7. n Vontobel 210,918, % 8. n UBS Investment Bank 188,754, % 9. n Société Générale 178,819, % 10. n Unicredit 121,268, % 11. Goldman Sachs 100,939, % 12. LBBW 54,085, % 13. Lang & Schwarz 25,049, % 14. DekaBank 24,638, % 15. ING Bank 16,872, % 16. Raiffeisen Centrobank 9,030, % 17. Credit Suisse 6,641, % 18. Helaba 6,564, % 19. Interactive Brokers 6,285, % 20. ETI Securities PLC 6,231, % 21. Royal Bank of Scotland 5,781, % 22. WGZ BANK 5,080, % 23. LBB 3,017, % 24. Erste Bank 2,999, % 25. Bayerische Landesbank 2,537, % 26. Delta1 Securities 1,993, % 27. Morgan Stanley 1,453, % 28. Notenstein 1,291, % 29. DWS GO 1,251, % 30. Merrill Lynch 1,095, % 31. EFG (incl. Leonteq) 1,093, % 32. Commonwealth Securitisations 1,071, % 33. Santander Global Banking & Markets 1,006, % 34. Eigenemission 478, % 35. Barclays Bank 462, % 36. Palladium Securities S.A. 398, % 37. Goldstein Structured Products SA 398, % 38. Platino S.A. 353, % 39. SEB 193, % 40. Common 193, % 41. HT-Finanzanlage Ltd 104, % 42. J.P. Morgan 90, % 43. NATIXIS 80, % 44. AGV S.A. 68, % 45. Exane Finance S.A. 37, % 46. AIV S.A. 31, % 47. Credit Agricole 29, % 48. Allegro 29, % 49. Guardian Segur 26, % 50. Rabobank 24, % 51. Argentum Capital 22, % 52. SecurAsset S.A. 10, % Total 4,000,450, % Others 7.2% Unicredit 3.0% Société Générale 4.5% UBS Investment Bank 4.7% Vontobel 5.3% Citigroup 5.7% HSBC Trinkaus 5.7% BNP Paribas 8.8% DZ BANK 10.7% Deutsche Bank 24.0% Commerzbank 20.4% 3

4 Investment Products January n Deutsche Bank 552,811, % 2. n DZ BANK 255,056, % 3. n Commerzbank 234,117, % 4. n BNP Paribas 140,748, % 5. n Société Générale 131,204, % 6. n HSBC Trinkaus 130,904, % 7. n Vontobel 75,540, % 8. n UBS Investment Bank 67,421, % 9. n LBBW 54,085, % 10. n Unicredit 53,530, % 11. Goldman Sachs 48,771, % 12. Citigroup 43,326, % 13. DekaBank 24,638, % 14. Lang & Schwarz 14,767, % 15. Credit Suisse 6,641, % 16. Helaba 6,564, % 17. ETI Securities PLC 6,231, % 18. Royal Bank of Scotland 5,619, % 19. Raiffeisen Centrobank 5,598, % 20. WGZ BANK 5,080, % 21. LBB 3,017, % 22. Bayerische Landesbank 2,537, % 23. Erste Bank 2,056, % 24. Delta1 Securities 1,788, % 25. Morgan Stanley 1,453, % 26. Notenstein 1,291, % 27. DWS GO 1,251, % 28. Merrill Lynch 1,095, % 29. EFG (incl. Leonteq) 1,093, % 30. Commonwealth Securitisations 1,071, % 31. Santander Global Banking & Markets 1,006, % 32. Barclays Bank 461, % 33. Palladium Securities S.A. 398, % 34. Goldstein Structured Products SA 398, % 35. Platino S.A. 353, % 36. ING Bank 328, % 37. SEB 193, % 38. Common 193, % 39. HT-Finanzanlage Ltd 104, % 40. J.P. Morgan 90, % 41. NATIXIS 80, % 42. AGV S.A. 68, % 43. Exane Finance S.A. 37, % 44. AIV S.A. 31, % 45. Credit Agricole 29, % 46. Allegro 29, % 47. Guardian Segur 26, % 48. Rabobank 24, % 49. Argentum Capital 22, % 50. SecurAsset S.A. 10, % Total 1,883,211, % Unicredit 2.8% LBBW 2.9% UBS Investment Bank 3.6% Vontobel 4.0% HSBC Trinkaus 7.0% Société Générale 7.0% BNP Paribas 7.5% Others 10.0% Commerzbank 12.4% Deutsche Bank 29.4% DZ BANK 13.5% 4

5 Leverage Products January n Commerzbank 582,786, % 2. n Deutsche Bank 408,560, % 3. n BNP Paribas 210,623, % 4. n Citigroup 182,858, % 5. n DZ BANK 171,776, % 6. n Vontobel 135,377, % 7. n UBS Investment Bank 121,332, % 8. n HSBC Trinkaus 98,069, % 9. n Unicredit 67,738, % 10. n Goldman Sachs 52,168, % 11. Société Générale 47,614, % 12. ING Bank 16,544, % 13. Lang & Schwarz 10,282, % 14. Interactive Brokers 6,285, % 15. Raiffeisen Centrobank 3,432, % 16. Erste Bank 942, % 17. Eigenemission 478, % 18. Delta1 Securities 205, % 19. Royal Bank of Scotland 162, % 20. Barclays Bank % Total 2,117,239, % Others 4.1% Goldman Sachs 2.5% Unicredit 3.2% HSBC Trinkaus 4.6% UBS Investment Bank 5.7% Vontobel 6.4% DZ BANK 8.1% Citigroup 8.6% BNP Paribas 9.9% Commerzbank 27.5% Deutsche Bank 19.3% 5

6 Investment Products with Capital Protection January n Deutsche Bank 22,779, % 2. n DZ BANK 7,187, % 3. n Helaba 4,293, % 4. n UBS Investment Bank 4,233, % 5. n LBBW 3,502, % 6. n Société Générale 3,422, % 7. n DekaBank 2,471, % 8. n Credit Suisse 1,810, % 9. n Unicredit 1,553, % 10. n BNP Paribas 1,498, % 11. Morgan Stanley 1,235, % 12. Royal Bank of Scotland 1,169, % 13. Santander Global Banking & Markets 973, % 14. Bayerische Landesbank 881, % 15. Goldman Sachs 450, % 16. Palladium Securities S.A. 398, % 17. Barclays Bank 317, % 18. ING Bank 285, % 19. HSBC Trinkaus 232, % 20. Commerzbank 160, % 21. WGZ BANK 136, % 22. HT-Finanzanlage Ltd 104, % 23. Raiffeisen Centrobank 91, % 24. LBB 80, % 25. Vontobel 57, % 26. Credit Agricole 29, % 27. Allegro 29, % 28. ETI Securities PLC 26, % 29. Rabobank 24, % 30. Argentum Capital 22, % 31. AGV S.A. 15, % 32. SecurAsset S.A. 10, % 33. Notenstein 4, % 34. Erste Bank % Total 59,493, % BNP Paribas 2.5% Unicredit 2.6% Credit Suisse 3.0% DekaBank 4.2% Société Générale 5.8% LBBW 5.9% UBS Investment Bank 7.1% Others 11.3% Helaba 7.2% DZ BANK 12.1% Deutsche Bank 38.3% 6

7 Investment Products without Capital Protection January n Deutsche Bank 530,031, % 2. n DZ BANK 247,869, % 3. n Commerzbank 233,957, % 4. n BNP Paribas 139,250, % 5. n HSBC Trinkaus 130,672, % 6. n Société Générale 127,782, % 7. n Vontobel 75,483, % 8. n UBS Investment Bank 63,188, % 9. n Unicredit 51,976, % 10. n LBBW 50,582, % 11. Goldman Sachs 48,321, % 12. Citigroup 43,326, % 13. DekaBank 22,167, % 14. Lang & Schwarz 14,767, % 15. ETI Securities PLC 6,204, % 16. Raiffeisen Centrobank 5,506, % 17. WGZ BANK 4,943, % 18. Credit Suisse 4,831, % 19. Royal Bank of Scotland 4,450, % 20. LBB 2,937, % 21. Helaba 2,271, % 22. Erste Bank 2,055, % 23. Delta1 Securities 1,788, % 24. Bayerische Landesbank 1,655, % 25. Notenstein 1,286, % 26. DWS GO 1,251, % 27. Merrill Lynch 1,095, % 28. EFG (incl. Leonteq) 1,093, % 29. Commonwealth Securitisations 1,071, % 30. Goldstein Structured Products SA 398, % 31. Platino S.A. 353, % 32. Morgan Stanley 218, % 33. SEB 193, % 34. Common 193, % 35. Barclays Bank 144, % 36. J.P. Morgan 90, % 37. NATIXIS 80, % 38. AGV S.A. 53, % 39. ING Bank 42, % 40. Exane Finance S.A. 37, % 41. Santander Global Banking & Markets 32, % 42. AIV S.A. 31, % 43. Guardian Segur 26, % Total 1,823,718, % LBBW 2.8% Unicredit 2.9% UBS Investment Bank 3.5% Vontobel 4.1% Société Générale 7.0% HSBC Trinkaus 7.2% BNP Paribas 7.6% Others 9.5% Commerzbank 12.8% Deutsche Bank 29.1% DZ BANK 13.6% 7

8 Leverage Products without Knock-Out January n Commerzbank 332,940, % 2. n Deutsche Bank 191,144, % 3. n DZ BANK 89,883, % 4. n Vontobel 81,354, % 5. n Citigroup 49,676, % 6. n UBS Investment Bank 49,504, % 7. n HSBC Trinkaus 47,123, % 8. n BNP Paribas 40,591, % 9. n Goldman Sachs 38,932, % 10. n Unicredit 34,691, % 11. Société Générale 26,737, % 12. Interactive Brokers 4,492, % 13. Raiffeisen Centrobank 2,907, % 14. Lang & Schwarz 615, % 15. Eigenemission 478, % 16. Delta1 Securities 205, % 17. Erste Bank 124, % Total 991,403, % HSBC Trinkaus 4.8% UBS Investment Bank 5.0% Citigroup 5.0% Vontobel 8.2% Others 3.5% Goldman Sachs 3.9% BNP Paribas 4.1% DZ BANK 9.1% Sonstige 3.6% Commerzbank 33.6% Deutsche Bank 19.3% 8

9 Leverage Products with Knock-Out January n Commerzbank 249,845, % 2. n Deutsche Bank 217,415, % 3. n BNP Paribas 170,032, % 4. n Citigroup 133,181, % 5. n DZ BANK 81,892, % 6. n UBS Investment Bank 71,827, % 7. n Vontobel 54,023, % 8. n HSBC Trinkaus 50,946, % 9. n Unicredit 33,046, % 10. n Société Générale 20,877, % 11. ING Bank 16,544, % 12. Goldman Sachs 13,236, % 13. Lang & Schwarz 9,666, % 14. Interactive Brokers 1,793, % 15. Erste Bank 818, % 16. Raiffeisen Centrobank 524, % 17. Royal Bank of Scotland 162, % 18. Barclays Bank % Total 1,125,835, % UBS Investment Bank 6.4% Société Générale 1.9% Unicredit 2.9% HSBC Trinkaus 4.5% Vontobel 4.8% DZ BANK 7.3% Citigroup 11.8% Others 3.8% BNP Paribas 15.1% Commerzbank 22.2% Deutsche Bank 19.3% 9

10 Uncapped Capital Protection Certificates January 2016 Capital Protection Products with Coupon January n DZ BANK 7,187, % 2. n UBS Investment Bank 4,233, % 3. n Deutsche Bank 3,747, % 4. n LBBW 3,502, % 5. n DekaBank 2,315, % 6. n Unicredit 1,306, % 7. n Société Générale 1,271, % 8. n BNP Paribas 1,237, % 9. n Helaba 1,195, % 10. n Credit Suisse 1,097, % 11. Goldman Sachs 450, % 12. Bayerische Landesbank 405, % 13. Morgan Stanley 238, % 14. HSBC Trinkaus 232, % 15. Commerzbank 160, % 16. WGZ BANK 136, % 17. ING Bank 124, % 18. Santander Global Banking & Markets 119, % 19. Barclays Bank 115, % 20. HT-Finanzanlage Ltd 104, % 21. Raiffeisen Centrobank 91, % 22. Credit Agricole 29, % 23. Allegro 29, % 24. Rabobank 24, % 25. Argentum Capital 22, % 26. LBB 16, % 27. SecurAsset S.A. 10, % 28. Erste Bank % Total 29,407, % 1. n Deutsche Bank 19,032, % 2. n Helaba 3,098, % 3. n Société Générale 2,150, % 4. n Royal Bank of Scotland 1,169, % 5. n Morgan Stanley 996, % 6. n Santander Global Banking & Markets 854, % 7. n Credit Suisse 713, % 8. n Bayerische Landesbank 476, % 9. n Palladium Securities S.A. 398, % 10. n BNP Paribas 261, % 11. Unicredit 247, % 12. Barclays Bank 201, % 13. ING Bank 160, % 14. DekaBank 156, % 15. LBB 63, % 16. Vontobel 57, % 17. ETI Securities PLC 26, % 18. AGV S.A. 15, % 19. Notenstein 4, % Total 30,085, % 10

11 Credit Linked Notes January 2016 Reverse Convertibles January n LBBW 10,191, % 2. n DekaBank 4,244, % 3. n Unicredit 1,921, % 4. n LBB 1,392, % 5. n Erste Bank 675, % 6. n Société Générale 663, % 7. n DZ BANK 389, % 8. n BNP Paribas 357, % 9. n Commerzbank 348, % 10. n Credit Suisse 102, % 11. Vontobel 101, % 13. Santander Global Banking & Markets 32, % Total 20,421, % 1. n Vontobel 23,967, % 2. n Deutsche Bank 22,630, % 3. n LBBW 20,501, % 4. n DZ BANK 14,145, % 5. n BNP Paribas 8,988, % 6. n Commerzbank 8,118, % 7. n UBS Investment Bank 8,017, % 8. n HSBC Trinkaus 7,240, % 9. n DekaBank 6,907, % 10. n Goldman Sachs 5,981, % 11. Unicredit 5,459, % 12. Société Générale 1,118, % 13. WGZ BANK 976, % 14. Bayerische Landesbank 900, % 15. Helaba 898, % 16. Credit Suisse 733, % 17. Raiffeisen Centrobank 243, % 18. SEB 182, % 19. Erste Bank 51, % 20. Notenstein 24, % 21. LBB 12, % 22. Barclays Bank 9, % 23. EFG (incl. Leonteq) 2, % Total 137,112, % 11

12 Discount Certificates January 2016 Express Certificates January n Deutsche Bank 180,333, % 2. n DZ BANK 155,284, % 3. n Commerzbank 143,543, % 4. n HSBC Trinkaus 83,491, % 5. n Société Générale 65,279, % 6. n Vontobel 31,764, % 7. n BNP Paribas 30,024, % 8. n Citigroup 21,157, % 9. n UBS Investment Bank 17,166, % 10. n Unicredit 16,946, % 11. LBBW 5,845, % 12. Goldman Sachs 5,695, % 13. WGZ BANK 2,603, % 14. Raiffeisen Centrobank 795, % 16. DekaBank 225, % Total 760,158, % 1. n Deutsche Bank 10,255, % 2. n DekaBank 8,535, % 3. n LBBW 7,441, % 4. n UBS Investment Bank 5,564, % 5. n Société Générale 4,939, % 6. n DZ BANK 4,420, % 7. n Commerzbank 3,067, % 8. n Unicredit 2,993, % 9. n Credit Suisse 2,281, % 10. n BNP Paribas 1,363, % 11. Vontobel 1,020, % 12. Notenstein 984, % 13. WGZ BANK 971, % 14. Helaba 864, % 15. HSBC Trinkaus 267, % 16. EFG (incl. Leonteq) 244, % 17. Goldman Sachs 234, % 18. Morgan Stanley 204, % 19. Bayerische Landesbank 153, % 20. J.P. Morgan 77, % 21. Raiffeisen Centrobank 77, % Total 55,964, % 12

13 Bonus Certificates January 2016 Tracker Certificates January n Deutsche Bank 95,520, % 2. n BNP Paribas 72,136, % 3. n DZ BANK 47,885, % 4. n HSBC Trinkaus 36,622, % 5. n Société Générale 35,698, % 6. n Commerzbank 33,925, % 7. n Goldman Sachs 31,883, % 8. n Citigroup 19,866, % 9. n UBS Investment Bank 19,359, % 10. n Vontobel 14,522, % 11. Unicredit 10,269, % 12. LBBW 5,395, % 13. Raiffeisen Centrobank 2,499, % 14. DekaBank 702, % 15. Credit Suisse 580, % 16. WGZ BANK 357, % 17. EFG (incl. Leonteq) 306, % 18. Erste Bank 144, % 19. Helaba 24, % 20. Royal Bank of Scotland 18, % 21. J.P. Morgan 12, % Total 427,731, % 1. n Deutsche Bank 220,284, % 2. n Commerzbank 43,327, % 3. n BNP Paribas 26,379, % 4. n DZ BANK 21,873, % 5. n Société Générale 19,622, % 6. n Lang & Schwarz 14,767, % 7. n Unicredit 14,386, % 8. n UBS Investment Bank 12,649, % 9. n ETI Securities PLC 6,204, % 10. n Goldman Sachs 4,491, % 11. Royal Bank of Scotland 4,431, % 12. Vontobel 3,579, % 13. HSBC Trinkaus 3,036, % 14. Raiffeisen Centrobank 1,891, % 15. Delta1 Securities 1,788, % 16. DekaBank 1,551, % 17. LBB 1,532, % 18. DWS GO 1,251, % 19. Erste Bank 1,183, % 20. Credit Suisse 1,133, % 21. LBBW 1,123, % 22. Merrill Lynch 1,095, % 23. Commonwealth Securitisations 1,071, % 24. Bayerische Landesbank 572, % 25. EFG (incl. Leonteq) 539, % 26. Helaba 482, % 27. Citigroup 442, % 28. Goldstein Structured Products SA 398, % 29. Platino S.A. 353, % 30. Notenstein 278, % 31. Common 193, % 32. Barclays Bank 134, % 33. NATIXIS 80, % 34. AGV S.A. 53, % 35. ING Bank 42, % 36. Exane Finance S.A. 37, % 37. WGZ BANK 35, % 38. AIV S.A. 31, % 39. Guardian Segur 26, % 40. Morgan Stanley 14, % Total 412,373, % 13

14 Outperformance and Capped Outperformance Certificates January 2016 Warrants January n DZ BANK 3,870, % 2. n Citigroup 1,859, % 3. n Commerzbank 1,627, % 4. n Deutsche Bank 1,006, % 5. n Vontobel 528, % 6. n Société Générale 461, % 7. n UBS Investment Bank 431, % 8. n LBBW 83, % 9. n Goldman Sachs 34, % 10. n Bayerische Landesbank 29, % 11. HSBC Trinkaus 13, % 12. SEB 11, % Total 9,956, % 1. n Commerzbank 123,616, % 2. n Deutsche Bank 123,380, % 3. n DZ BANK 84,776, % 4. n Citigroup 49,676, % 5. n UBS Investment Bank 49,498, % 6. n BNP Paribas 40,591, % 7. n Goldman Sachs 38,932, % 8. n Unicredit 32,316, % 9. n Société Générale 26,259, % 10. n Vontobel 21,590, % 11. HSBC Trinkaus 14,335, % 12. Interactive Brokers 4,492, % 13. Raiffeisen Centrobank 1,916, % 14. Lang & Schwarz 615, % 15. Eigenemission 478, % 16. Erste Bank 101, % Total 612,577, % 14

15 Factor Certificates January n Commerzbank 209,324, % 2. n Deutsche Bank 67,764, % 3. n Vontobel 59,763, % 4. n HSBC Trinkaus 32,787, % 5. n DZ BANK 5,107, % 6. n Unicredit 2,375, % 7. n Raiffeisen Centrobank 991, % 8. n Société Générale 477, % 9. n Delta1 Securities 205, % 10. n Erste Bank 22, % 11. UBS Investment Bank 6, % Total 378,826, % Knock-Out Warrants January n Commerzbank 249,845, % 2. n Deutsche Bank 217,415, % 3. n BNP Paribas 170,032, % 4. n Citigroup 133,181, % 5. n DZ BANK 81,892, % 6. n UBS Investment Bank 71,827, % 7. n Vontobel 54,023, % 8. n HSBC Trinkaus 50,946, % 9. n Unicredit 33,046, % 10. n Société Générale 20,877, % 11. ING Bank 16,544, % 12. Goldman Sachs 13,236, % 13. Lang & Schwarz 9,666, % 14. Interactive Brokers 1,793, % 15. Erste Bank 818, % 16. Raiffeisen Centrobank 524, % 17. Royal Bank of Scotland 162, % 18. Barclays Bank % Total 1,125,835, % The statistics include the turnover in derivatives at the stock exchanges in Stuttgart (EUWAX) and Frankfurt (Börse Frankfurt Zertifikate). The turnover figures are taken from Xetra and XONTRO (Xontro Order). The number of customer orders executed was integrated into the EUWAX statistics. The statistics cover all orders entered into the system by customers (not issuers or market makers) and executed by price determination. Issuers market making activities (provision of liquidity for own securities) are not taken into account. Orders routed via an order flow provider offering an intermediary service are only counted once. Each partial execution of an order counts as an order. Later corrections made in stock exchange systems (e.g. a cancellation following a mistrade) are not taken into account. The securities are allocated using securities master data from WM Gruppe (Wertpapier-Mitteilungen), the German numbering agent and provider of securities information, as well as the securities master data from boerse-stuttgart AG. This allows the best possible classification of the turnover data by stock exchange, product group and issuer. From January 2010, the derivatives are classified according to the product classification developed by Deutscher Derivate Verband (DDV). Deutscher Derivate Verband (DDV) This document may only be copied, forwarded or distributed with the express written permission of DDV. Although the data in this document originate from sources deemed to be reliable, no responsibility can be taken for their correctness, completeness or relevance. All the figures for volumes and market shares are based on freely available data. They are provided for information purposes only, and should be taken only as a guide. This document and the information contained in it may only be distributed or published in states in which the relevant statutory provisions permit it. The direct or indirect distribution of this document in the United States, the United Kingdom, Canada or Japan is prohibited, as is its forwarding to US residents. 15