BBVA has been recognized by its customers more often than any other bank as the best derivatives provider in the Spanish market, as shown in the new survey by Risk España published this month. The survey by the specialized journal of the Incisivemedia Group held its eighth edition this year, and it is the sixth time BBVA has been ranked first.

Altura, BBVA's organized market broker, has also been chosen as the best intermediary in Spain for the eighth consecutive year.

More than 284 market experts participated in the survey, including financial intermediaries, brokers, fund managers and large enterprises in Spain. They evaluated the best providers in 23 derivatives categories, divided among interest rates, currencies, equities, structured products and advisory in risk management.

The awards were collected by Carlos Gil, Head of Interest Rate Derivatives in Spain, Juan Ramón Domínguez, Head of Equity Derivatives distribution in the financial sector, and Carlos Siemens, Director of Institutional Distribution of FX in Spain.

The journal explains that BBVA held first place in the rankings, with 17.8% of the votes and emphasizes the advances it has made in adequately managing counterparty risks. Víctor Martínez San Martín, Global Director of Sales of Global Markets, explains that "the capacity to precisely measure counterparty risk and to take into account our own credit and financing risk means that we are able to effectively evaluate our activity in all asset classes, and that gives us a competitive edge".

In terms of product, BBVA is particularly outstanding in the categories of interest rates and currencies, and in Research. As pointed out by Alfonso de Miguel, Global Director of Structured Solutions", investors have been focused for a large part of the year on products linked to credit risk as the main driver of returns, although we have again begun to see other products linked to interest rates".

The revival in interest rate products is also being seen in listed futures. As noted by Altura's Managing Director, Sverre Hasvold, "We are quite pleased to have received this award for another year. The year 2012 was quite difficult for the financial industry, but we are capable of offering high value-added products in every market where we operate. Organized markets again showed their strength at times of the greatest uncertainty last year".

The latest distinction extended by Risk España highlights, once again, the level of specialized services offered by BBVA Corporate & Investment Banking, considered a benchmark in the industry.