Overall Interest rates Equity derivatives Interest rates Structured products Interest rate swaps Forward rate agreements Single-stock equity options – Equity index options – international 2016 2015 2016 2015 Bank 2016 2015 Bank 2016 2015 Bank 2016 2015 Bank 2016 2015 Bank 1 5= JP Morgan 1 – JP Morgan 1 2 BBVA 1 2 BBVA 1 7= JP Morgan 1 – JP Morgan 2 1 BBVA 2= – Capital 2= 5= JP Morgan 2 3 Societe Generale 2 1 BBVA 2 2 BBVA 3 4 BNP Paribas 2= 1 BBVA 2= 1 Santander 3 – Morgan Stanley 3= 9 Barclays Capital 3 5 4 – 2= 3= BNP Paribas 4 3 Societe Generale 4 – Banco 3= 4 BNP Paribas 4= – Merrill Lynch 5= – 5 – Bank of America Merrill Lynch 5= – Bank of America Merrill Lynch 5 4 JP Morgan 5 – Bank of America Merrill Lynch 4= – Barclays Capital 5= – Barclays Capital Broker CIMD 5= 5= La Caixa Broker Altura Markets Broker Altura Markets 5= – La Caixa Broker Altura Markets 5= 2 Santander Inflation swaps 5= 3 Societe Generale 2016 2015 Bank Single-stock equity options – international Warrants Currencies Brokers Broker CIMD 1 – JP Morgan 2016 2015 Bank 2016 2015 Bank 2= 5= La Caixa 1 4 JP Morgan 1= 3 Societe Generale 2016 2015 Bank 2016 2015 Broker 2= 5= Barclays Capital 2 1 BBVA 2 4 BNP Paribas 1 – Barclays Capital 1 1 Altura Markets Interest rate options 2= 5= Bank of America Merrill Lynch 3 2= Societe Generale 3= – Banco Sabadell 2 1 BBVA 2 2 CIMD 2016 2015 Bank 5= 2 BBVA 4= – La Caixa 3= 1 BBVA 3 5 JP Morgan 3 3 Gesmosa 1 – JP Morgan 5= – BNP Paribas 4= – Natixis 3= – JP Morgan 4 – Banco Sabadell 4 4 Icap 2= – Barclays Capital 5= – Citi Broker Altura Markets 5 4 Citi 5 – GFI 2= 1 BBVA 5= – Broker Altura Markets 4= – Bank of America Merrill Lynch 5= – Goldman Sachs Equity index options – Spain 4= 3 Societe Generale 5= – UBS 2016 2015 Bank Broker Altura Markets Broker Icap 1 2 BBVA Equities 2= 4 Morgan Stanley 2= 1 Santander 2016 2015 Bank 4 – Banco Sabadell 1 2 BBVA 5= – La Caixa 2 3 Societe Generale 5= 3 Societe Generale 3 4 JP Morgan Broker Altura Markets 4 – Banco Sabadell 5 10 La Caixa Currencies Broker Altura Markets Currency swaps Currency forwards Structured products Exchange-traded funds 2016 2015 Bank 2016 2015 Bank 1 4= Barclays Capital 1 – JP Morgan Best retail structured product 2016 2015 Bank 2 1 BBVA 2 1 BBVA 2016 2015 Bank 1 5 JP Morgan General advice on risk management & derivatives 3 – Deutsche Bank 3= – Banco Sabadell 1 – La Caixa 2 1 Societe Generale 4= – Citi 3= – Barclays Capital 2 – BBVA 3= Bank of America Merrill Lynch Risk management advisory Exchange-traded derivatives advisers 4= – Credit Suisse 5= – Ceca 3 – JP Morgan 3= Goldman Sachs 2016 2015 Bank 2016 2015 Bank 4= – JP Morgan 5= 4 Citi 4 – 5= 2= BBVA 1 – Barclays Capital 1 4 JP Morgan Broker GFI Broker Altura Markets 5 – Barclays Capital 5= Deutsche Bank 2 1 BBVA 2 1 BBVA 3= 3= JP Morgan 3 – Barclays Capital Currency options 3= – Morgan Stanley 4 – Morgan Stanley 2016 2015 Bank Best institutional structured product Derivatives research 5 2 Santander 5 – La Caixa 1 – Barclays Capital 2016 2015 Bank 2 – Banco Sabadell 1 – JP Morgan 2016 2015 Bank 2016 2015 Broker 2016 2015 Broker 3 1 BBVA 2 – BBVA 1 JP Morgan 1 2 CIMD 1 2 CIMD 4 – JP Morgan 3= – Bank of America Merrill Lynch 2 1 BBVA 5= – BNP Paribas 3= – Barclays Capital 3 2 Santander 5= – UBS 3= – La Caixa 4 BNP Paribas Broker Altura Markets 5= HSBC 5= La Caixa

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