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FIXED INCOME POLL METHODOLOGY Asiamoney

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FIXED INCOME POLL METHODOLOGY Asiamoney Powered By Docstoc
					2011 FIXED INCOME POLL – METHODOLOGY
 In the inaugural Fixed Income Poll Asiamoney invited both issuers and investors (namely hedge funds,    Interest Rates Research
 private banks, central banks, asset management houses, securities houses and so on), those who invest   • Best Interest Rate Research and Market Coverage for:
 their portfolio in the Asia-Pacific market to participate. A total of 886 responses were received,        - U.S. Interest Rates
 however 45 were made void due to their failure to fulfill the auditing requirements. The 841 valid
 responses were contributed by 719 respondents from 671 different institutions. The geographical           - European Interest Rates
 breakdown is as below:                                                                                    - Local Currency Interest Rates
                                                                                                         • Best Interest Rate Strategist*
          OTHERS (0.94%)
                                                                          AUSTRALIA* (2.73%)
     VIETNAM* (4.04%)                                                       CHINA (6.78%)
 PHILIPPINES (10.11%)                                                                                    Interest Rate Sales
                                                                             HONG KONG (9.63%)           • Best Team for Interest Rate Sales Services
 THAILAND (10.11%)                                                                                       • Best Team for Interest Rate Trading
                                                                             INDIA (5.47%)               • Best for Most Innovative Trading Ideas
                                                                                                         • Best Pricing and Execution Capabilities
 TAIWAN (4.88%)                                                              INDONESIA (6.54%)

                                                                                                         Interest Rate Derivatives
                                                                             KOREA (5.95%)               • Best for Broadest Product Range in Interest Rate Derivatives
  SINGAPORE (19.86%)                                                                                     • Best Market Liquidity and Support in Interest Rate Derivatives
                                                                             MALAYSIA (12.96%)
                                                                                                         • Best Sales Service in Interest Rate Derivatives for:
 *Country results are not published in Australia and Vietnam due to insufficient responses.                - G10 Products
 The questionnaire was divided into 3 sections, each focusing on a different product area: Credit,         - Local Currency Products
 Interest rates and Commodities. The 841 valid votes split across as below:
                                                                                                         • Best Pricing for Interest Rate Derivatives:
                                                                                                           - Vanilla Options
        COMMODITIES
                                                                                                           - Swaps
                (90)
                                                                                                           - Exotic Rates
                                                                            CREDIT (224)

      INTEREST RATES                                                                                     Commodities
                (527)                                                                                    • Best Overall - Commodities

                                                                                                         Commodities Research
                                                                                                         • Best Commodities Research and Market Coverage
                                                                                                         • Best Commodities Research Analyst*

 In the questionnaire, respondents were asked to nominate their top three fixed income providers
 in the following categories.                                                                            Commodities Sales
                                                                                                         • Best Team for Commodities Sales Services
 Credit                                                                                                  • Best Team for Commodities Trading
 • Best Overall - Credit                                                                                 • Best for Most Innovative Trading Ideas
 • Best Bookrunner for:                                                                                  • Best Pricing and Execution Capabilities
   - G3 bonds issued by Asian Bank
   - G3 bonds issued by Asian Corporate                                                                  Commodities Derivatives
   - G3 bonds issued by Asian Sovereign                                                                  • Best for Broadest Product Range in Commodities Derivatives
   - G3 Asian Investment Grade Bonds                                                                     • Best Market Liquidity and Support in Commodities Derivatives
   - G3 Asian High Yield Bonds                                                                           • Best Sales Service in Commodities Derivatives:
   - Local Currency Bonds                                                                                  - G10 Products
 • Best for Understanding Credit Financing Needs                                                           - Local Currency Products
 • Best for Most Competitive Execution and Distribution in the Primary Markets                           • Best Pricing for Commodities Derivatives
 • Best for Most Capital Support for Primary Issues
 • Best for Fixed Income Origination                                                                     * Scores for Best Credit Research Analyst, Best Interest Rate Strategist and Best Commodities Research Analyst
                                                                                                         were aggregated to reflect team scores.
 • Best for Liquidity and Market Support
                                                                                                         A “one firm-one vote” policy was implemented. To avoid any one respondent company having more
 • Best for Fixed Income Solutions/ Debt Liability Management
                                                                                                         influence than others of equal size, multiple votes from a company were fractioned according to the
 • Best Electronic Bond Trading Platform                                                                 number of votes received from that company.
                                                                                                         For all the above categories 3 points are awarded to 1st place nominations, 2 points to 2nd place and 1
 Credit Research                                                                                         point to 3rd place. For categories about local currency products, 1 point is awarded to each nomination.
 • Best Credit Research and Market Coverage for:                                                         Each vote was then weighted according to the annual trading volume of their institutions in Asia-
   - G3 bonds issued by Asian Bank                                                                       Pacific – as disclosed by the respondents.
   - G3 bonds issued by Asian Corporate
   - G3 bonds issued by Asian Sovereign                                                                              Total annual trading volume in Asia-Pacific                   Weighting
   - G3 Asian Investment Grade Bonds                                                                                                 <US$50m                                           1
   - G3 Asian High Yield Bonds                                                                                                   US$50.01m-100m                                        2
   - Local Currency Bonds                                                                                                       US$100.01m-250m                                        4
 • Best Credit Research Analyst*                                                                                                US$250.01m-500m                                        6
                                                                                                                                  US$500.01m-1bn                                       8
 Credit Sales                                                                                                                      US$1.01bn-5bn                                      12
 • Best Team for Credit Sales Services                                                                                            US$5.01bn-10bn                                      16
 • Best Team for Credit Trading                                                                                                  US$10.01bn-25bn                                      20
 • Best for Most Innovative Trading Ideas                                                                                        US$25.01bn-50bn                                      25
 • Best Pricing and Execution Capabilities                                                                                           >US$50bn                                         30

 Credit Derivatives                                                                                      The rankings for Regional and Domestic Overall were calculated from all responses. The former one
 • Best for Broadest Product Range in Credit Derivatives                                                 gave results of banks which received votes from more than half of the countries researched while the
                                                                                                         later one showed the best performers in a certain domestic wise aspects. The Country results were
 • Best Market Liquidity and Support in Credit Derivatives
                                                                                                         tabulated based on where the respondents are located.
 • Best Sales Services in Credit Derivatives
                                                                                                         Highlights of Asia’s best-ranked fixed income providers will be featured in the July issue of Asiamoney.
   - G10 Products                                                                                        More detailed rankings will be available online, at www.asiamoney.com
   - Local Currency Products                                                                             To obtain a copy of the results and the magazine, please contact Patrick McCulloch, regional sales
 • Best Pricing for Flow Credit Derivatives                                                              manager, on (852) 2842 6953 or patrick.mcculloch@euromoneyasia.com. For further information
                                                                                                         regarding the poll, please contact Ray Mau, assistant polls editor, on (852) 2912 8037 or at
 Interest Rates                                                                                          ray.mau@asiamoney.com
 • Best Overall - Interest Rates

				
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posted:11/2/2012
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