The JSE announced the winners of the 13th annual Spire Awards – recognising excellence in South Africa’s fixed income, currency and commodity derivatives markets – at a gala dinner last night. ABSA Capital emerged as the overall winner and was crowned as the Best Fixed Income and Currencies House. Rand Merchant Bank and Standard Bank took second and third place respectively.
Donna Oosthuyse: Director Capital Markets at the JSE says fixed income instruments play an important role in the portfolios of most pension funds and this means that almost all South Africans who contribute to pension funds are exposed to this asset class. “The awards not only allow the JSE to showcase the successes of some or our issuers, members and clients but to also to tell investors about the achievements of the strongest players in the industry.”
The Spire Awards are awarded based on trading volumes and votes cast by clients. Oosthuyse says that the voting process ensures that the awards remain credible and creates a highly competitive environment. “The JSE congratulates this year’s winners. The awards allow us to recognise the hard work and innovation of a range of different market participants, from brokers to researchers and sales teams as well as issuers.”
This year the bond market has seen over R14.5 trillion in trades take place until the end of September. This nominal amount traded can be attributed to R9.64 trillion of trade in the Repo market and R4.9 trillion in the Spot market. In the Spot market, 89% of the nominal traded was in Government Bonds. Bonds to the value of R190 billion have been issued on the JSE’s bond market this year, with corporates accounting for R80 billion of the issuance.
The Overall Winners for the 2014 Spire Awards are as follows:
Best Fixed Income and Currencies House |
ABSA Capital |
Best Bonds House |
ABSA Capital |
Best Interest Rate Derivatives House |
ABSA Capital |
Best FX House |
ABSA Capital |
Best Research House |
Rand Merchant Bank |
Best Inter Dealer Broker |
ICAP |
Best Agency Broker |
Prescient |
The Category Winners for the 2014 Spire Awards are as follows:
Best Market Making Team - Government Bonds |
ABSA Capital |
Best Team - Inflation Bonds |
Rand Merchant Bank |
Best Team - Credit Bonds |
ABSA Capital |
Best Repo Team |
Rand Merchant Bank |
Best Sales Team - Bonds |
ABSA Capital |
Best Debt Origination Team |
Rand Merchant Bank |
Best Market Making Team – Interest Rate Derivatives |
Rand Merchant Bank |
Best On-Screen Market Making Team – Interest Rate Derivatives |
Rand Merchant Bank |
Best Sales Team – Interest Rate Derivatives |
ABSA Capital |
Best Market Making Team - FX |
ABSA Capital |
Best On-Screen Market Making Team - FX |
Rand Merchant Bank |
Best Sales Team - FX |
ABSA Capital |
Best Research Team - Economics |
ABSA Capital |
Best Research Team - Fixed Income |
Citi Bank |
Best Research Team - Credit |
Rand Merchant Bank |
Best Research Team - FX |
Standard Bank |
Best Research Team - Technical Analysis (FX, IRD, Bonds) |
Nedbank Capital |
Best Research Team - Quantitative Research |
Standard Bank |
Best Research Team - Africa |
Rand Merchant Bank |
Best Structuring Team - Inflation\Credit\FX |
ABSA Capital / Rand Merchant Bank |
Best Inter Dealer Broker - Bonds |
ICAP |
Best Inter Dealer Broker – Interest Rate Derivatives |
ICAP |
Best Agency Broker - Bonds |
Prescient |
Best Agency Broker - Listed FX Derivatives |
Peregrine |
Best Agency Broker - Listed Interested Rate Derivatives |
Prescient |
Best Issuer - Bonds |
Republic of South Africa |
Best Broker - Listed Commodity Derivatives |
RMD Financial Services |
Best Market Making Team - Cash Settled Commodity Derivatives |
Rand Merchant Bank |