How the Poll Was Conducted

Overall 2014 2013 Bank % Interest rates Equity 1 2 Commerzbank 16.1 2 1 Deutsche Bank 15.8 Interest rate swaps Repurchase agreements OTC single-stock options – Germany Equity index options 3 3 UniCredit 12.9 4 5 DZ Bank 7.1 2014 2013 Bank % 2014 2013 Bank % 2014 2013 Bank % 2014 2013 Bank % 5 – JP Morgan 6.8 1 1 Deutsche Bank 20.7 1 1 Deutsche Bank 23.9 1 1 UniCredit 22.1 1 n/a Commerzbank 21.3 6 8 Barclays 6.3 2 3 Commerzbank 18.0 2 3 Commerzbank 21.2 2= 3 Commerzbank 18.2 2 UniCredit 18.3 7 4 Landesbank Baden-Württemberg 6.1 3 – Barclays 11.3 3 2 UniCredit 17.1 2= 2 Deutsche Bank 18.2 3 Deutsche Bank 17.2 8 6 BNP Paribas 6.0 4 2 UniCredit 11.2 4 – Barclays 12.6 4 – BNP Paribas 9.6 4 JP Morgan 10.4 9 7 HSBC 5.2 5 4 DZ Bank 10.1 5 5 Landesbank Baden-Württemberg 9.4 5 – Credit Suisse 7.7 5 Credit Suisse 9.3 10 – Credit Suisse 5.1 Interest rate options Cross-currency swaps OTC single-stock options – international Exchange-traded funds

2014 2013 Bank % 2014 2013 Bank % 2014 2013 Bank % 2014 2013 Bank % Overall 1 1 Deutsche Bank 19.2 1 1 Commerzbank 20.7 1 3 Commerzbank 19.0 1 1 UniCredit 22.1 2 3 Commerzbank 17.8 2 2 Deutsche Bank 19.3 2 2 Deutsche Bank 18.4 2 3 Commerzbank 21.4 Interest rates 3 2 UniCredit 12.1 3 3 UniCredit 13.2 3 1 UniCredit 18.1 3 2 Deutsche Bank 20.0 4 4 DZ Bank 12.0 4 – Citi 10.4 4 – JP Morgan 10.7 4 4 Societe Generale 9.2 2014 2013 Bank % 5 – Barclays 9.2 5 5 DZ Bank 10.2 5 4 UBS 7.5 5 – Morgan Stanley 7.3 1 1 Deutsche Bank 20.7 2 3 Commerzbank 19.4 Forward rate agreements 3 2 UniCredit 13.2 Other 4 – Barclays 10.7 2014 2013 Bank % 5 5 DZ Bank 10.5 1 3 Commerzbank 20.4 Credit derivatives Structured products 2 1 Deutsche Bank 19.3 2014 2013 Bank % 2014 2013 Bank % 3 2 UniCredit 15.2 1 1 Commerzbank 20.5 1 1 Commerzbank 25.8 Currencies 4 – Barclays 12.6 2 2 Deutsche Bank 17.6 2 3 Deutsche Bank 20.1 5 5= DZ Bank 10.2 3 4 JP Morgan 13.7 3 2 UniCredit 13.4 2014 2013 Bank % 4 3 UniCredit 12.8 4 – JP Morgan 12.9 1 1 Commerzbank 22.4 5 – Bank of America Merrill Lynch 11.8 5 4= Societe Generale 9.6 2 2 Deutsche Bank 20.5 3 3 UniCredit 12.2 Commodities 4 – Landesbank Baden-Württemberg 9.6 Currencies 2014 2013 Bank % 5 – DZ Bank 9.2 1 1 Commerzbank 24.6 Currency swaps Currency forwards 2 2 Deutsche Bank 20.1 Equities 3 – JP Morgan 12.7 2014 2013 Bank % 2014 2013 Bank % 4 3 Bank of America Merrill Lynch 10.3 2014 2013 Bank % 1 2 Commerzbank 23.2 1 1 Commerzbank 23.1 5 4 UBS 10.1 1 1 UniCredit 19.5 2 1 Deutsche Bank 19.6 RISK.NET2 2 Deutsche Bank 22.3 ©2 3 CommerzbankCOPYRIGHT 19.2 3 3 UniCredit 11.8 3 4 UniCredit 13.2 PROTECTED 3 2 Deutsche Bank 17.8 4 – Citi 9.6 4 – Landesbank Baden-Württemberg 9.3 4 – JP Morgan 10.2 5 4 BNP Paribas 8.8 5 – JP Morgan 8.2 First-class risk management consulting HOW THE POLL WAS CONDUCTED 5 – Credit Suisse 9.6 Currency options Derivatives and risk management advisory 341 votes were received from dealers, brokers, corporates and asset managers in Germany. Participants were asked to vote for their top three derivatives dealers in 2014 2013 Bank % 2014 2013 Bank % order of preference in products they had traded over the course of the past year. 1 1 Commerzbank 22.1 1 1 Commerzbank 21.2 The survey was divided into interest rates, currency, equity, structured products and 2 2 Deutsche Bank 19.4 2 2 Deutsche Bank 18.7 risk advisory. The votes were weighted, with three points assigned for first place, 3= – DZ Bank 11.3 3 3 UniCredit 14.4 two points for second and one for third. Only categories with a sufficient number of 3= 3= UniCredit 11.3 4 5 Landesbank Baden-Württemberg 8.9 votes have been included in the final results. The survey includes a series of overall 5 – Landesbank Baden-Württemberg 11.2 5 – JP Morgan 8.4 product leaderboards, calculated by aggregating the total number of weighted votes across individual categories.