Swiss Derivative Awards 2018

EQUITY PRODUCT

• Winner: Leonteq Securities, FASLTQ, Tracker-Zertifikat auf den «Sharing Economy Basket»
• Nominated: Raiffeisen Schweiz, CZVRCH, 6.25% p.a. Target One Multi Barrier Reverse Convertible auf CS, LafargeHolcim und Swatch
• Nominated: UBS, USTAXU, Tracker-Zertifikat auf den US Tax Reform Beneficiaries Basket

COMMODITY PRODUCT

• Winner: Raiffeisen Schweiz, CSXRCH, Bonus-Zertifikat auf WTI Rohöl 11%/100%
• Nominated: BNP Paribas, GHFABP, ICE Brent Crude Oil Future Knock-Out Warrant Call
• Nominated: Leonteq Securities, FUHLTQ, Mini-Future auf Baumwolle

INDEX PRODUCT 

Sponsored by SIX Swiss Exchange

• Winner: Zürcher Kantonalbank, PRPREZ, Tracker-Zertifikat auf SPI® Size Premium CHF Index
• Nominated: UBS, FAMSUU, Tracker-Zertifikat auf den Solactive Swiss Family Owned Companies Index
• Nominated: Leonteq Securities, SDGLTQ, Tracker-Zertifikat auf Swiss Dividend Growth Index

PRODUCT ON PRECIOUS METALS / FOREIGN CURRENCIES 

• Winner: Zürcher Kantonalbank, Z17XZZ, Kapitalschutz-Zertifikat mit Partizipation und Cap auf EUR/USD
• Nominated: Leonteq Securities, EZRLTQ, Renditeoptimierungs-Zertifikat auf EUR/CZK Wechselkurs
• Nominated: Leonteq Securities, DWRLTQ, COSI Callable Multi Barrier Reverse Convertible auf Goldminenaktien mit Partizipation auf Gold

PRODUCT ON ALTERNATIVE UNDERLYINGS

• Winner: Leonteq Securities, SHORTQ, Tracker-Zertifikat Short auf Bitcoin
• Nominated: Leonteq Securities, FPKLTQ, Mini-Future Short auf US 10Y Note
• Nominated: Commerzbank, VI1LCV, Faktor-Zertifikat 1x Long auf den VIX Futures

THE BEST MARKET MAKERS
For investors, fair prices on the secondary market are a key feature of a «good» investment product. In the category "Leverage Products", Zürcher Kantonalbank was awarded first place as the best market maker. The issuer stood out due to consistent quality in the pricing of its issues in the secondary market on the SIX Structured Products. Leonteq Securities was successful in taking first place in the category "Investment Products".

SPECIAL AWARD: SVSP FOR LAUNCHING THE "SP PORTFOLIO OPTIMIZER" APP
The Special Award for achievements in 2017 goes to the Swiss Structured Products Association (SVSP) for the launch of a cross-bank App "SP Portfolio Optimizer". The association consistently went into advance work and made the much-said portfolio context of structured products evident in practice. The basis has thus been created. The next step will be to expand and widen the app.

TOP SERVICE
Judging of the issuers' service performance involved assessment of the following criteria: quality of term sheets, quality of brochures and client magazines, quality of derivatives website, quality of market making, surveys of investors and pricing. This year, the jury awarded the coveted distinction to Bank Vontobel, Banque Cantonale Vaudoise. Leonteq Securities, UBS und Zürcher Kantonalbank.

RESEARCH AWARD
The best academic works (Master, Doctor/PhD, Paper) about Derivatives and STPs.

Sponsored by Swiss Structured Products Association (SVSP)

This year, around a dozen works, primarily from Germany and Switzerland, were submitted.  The quality surprised me very positively. Out of five works that made it onto the shortlist, the following three were awarded prizes:

WINNER
Alexander Kraftschik, University of Münster
Dissertation: «Variance Dynamcis and VIX Derivatives: On the Importance of Stochastic Vol-of-Vol» - consisting of five papers. The primary focus of this work was modeling. Alexander Kraftschik has created a work rich in formulas and tried to sensibly enrich the existing models.

NOMINATED
Adili Yiligeer, Karlsruhe Institute of Technology
Master thesis: «Applying Blockchain to OTC Derivatives». Practical work with a focus on application questions of the blockchain in a post-trade environment.

NOMINATED
René Infanger, University of Zurich
Bachelor thesis: «Complexity of Structured Products in Switzerland ". In addition to the summary of various surveys, Mr. Infanger has prepared his own study on the understanding of products and investor assessment, including an online questionnaire.