New Certificate Provider Rankings Shows Shift in the Delivery of Information
on Structured Products for Retail Investors
Listening to the Needs of their Customers, Issuers have Responded with
Detailed Product Information and Innovative Portals to Explore Options for
Structured Product Investment
FRANKFURT -- June 25, 2013
Sapient Global Markets, a division of Sapient (NASDAQ: SAPE), in collaboration
with Die Welt, announced new certificate provider rankings for issuers of
structured products in the German market. The rankings show a shift in how
information is provided to the retail investor with new channels to access
information, increase client service and provide a transparent environment
around the products available.
Structured products, also referred to as warrants or certificates, have become
popular in a number of German-speaking countries including Germany, Austria
and Switzerland. With over one million instruments traded in the German
market, retail investors can select from an array of derivative structured
products based on equities, commodities, interest rates or currencies. In this
expansive marketplace, retail investors are demanding detailed information on
each product available.
The 2013 rankings include 20 certificate providers that cover 98 percent of
the German speaking market. From April to June 2013, product and risk
transparency as well as information services were tested with emails, phone
calls as well as a thorough investigation of the issuers product pricing
policy and product platforms.
Overall, DZ Bank finished first in the issuer study on service quality with a
score of 89.90 out of a possible 100 points. DZ Bank was followed by Goldman
Sachs, LBB, HSBC Trinkaus and BNP Paribas.
“Today’s retail investor must think about affordability and risk tolerance for
the products they are investing in. The channels that issuers are providing to
help educate retail investors continue to evolve with each passing year and
investors are asking for detailed information available at their fingertips,”
said Stefan Naumann, director, Sapient Global Markets. “This year’s rankings
shows a true increase in information available to the retail investor across
product information, web portal and transparency and overall client service.”
As of 2011, issuer Product Information Sheets (PIB) have been required by law
to clearly display the principal opportunities and risks of structured
products. While there are still issuers who decline to offer customers
comprehensive information about their structured products, such cases are
rare. As part of this year’s rankings, a selection of each issuer’s PIB was
tested for completeness and accuracy of content and clarity of the text. In
the 2013 rankings, Goldman Sachs has risen to the top spot within this
category with a rating of 17.32 out of 20 points. This represents a
significant jump from 2012 where Goldman Sachs ranked twentieth out of twenty
one in this category of the benchmark study.
As client service for retail investors continues to improve, web-based portals
are evolving as an essential source of information on structured products.
Issuers have become much more transparent by offering new tools through mobile
and tablet-based applications. In the 2013 rankings, DZ Bank ranked first for
the second year in a row with a score of 38.76 out of 40 points by providing
access to detailed information across new channels to reach customers.
Response to client inquiries through email and telephone channels was also
measured. The rankings evaluate the comprehensibility and accuracy of specific
products based on responses from each issuer. In 2013, LBB ranked first for
the second year in a row in response management with a score of 39.91 out of
About Sapient Global Markets
Sapient Global Markets, a division of Sapient® (NASDAQ: SAPE), is a leading
provider of services to today’s evolving financial and commodity markets. We
provide a full range of capabilities to help our clients grow and enhance
their businesses, create robust and transparent infrastructure, manage
operating costs, and foster innovation throughout their organizations. We
offer services across Advisory, Analytics, Technology, and Process, as well as
unique methodologies in program management, technology development, and
process outsourcing. Sapient Global Markets operates in key financial and
commodity centers worldwide, including Boston, Chicago, Houston, New York,
Calgary, Toronto, London, Amsterdam, Düsseldorf, Geneva, Munich, Zurich,
Frankfurt and Singapore, as well as in large technology development and
operations outsourcing centers in Bangalore, Delhi, and Noida, India. For more
information, visit www.sapientglobalmarkets.com.
Sapient is a registered service mark of Sapient Corporation.
Sapient Global Markets
Matt Pennacchio, +1 646-520-2737
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