On the one hand, BBVA has once more ranked number 2 in the "Spain & Portugal Leading Brokerage House" category of the Extel Equity Ranking, a position it has maintained for the fourth year in a row. BBVA is also closing the gap with the top position, since it's up 3% compared with the 6% decline of the top position.

248 institutional clients voted for BBVA in this category, which accounts for 12.3% of the total votes received. As for the breakdown of votes by country, BBVA is in the top 3 among customers in the U.S., UK, France, Switzerland, Spain in Portugal.
In the breakdown by category, BBVA holds on to second place in the four that make up the "Spain & Portugal Leading Brokerage House Cash Equity" category: Research, Sales, Company & Expert meetings and Trading Execution.
According to Javier Valverde, BBVA's Head of Cash Equity Sales, "the concerted effort of the equity teams (sales, analysis and trading) has enabled us to obtain the recognition of our global clients in this survey year after year and position ourselves as one of the best equity brokerage houses in Spain and Portugal".
Ana Munera, BBVA's Head of Equity Research, said: "The Extel results reflect the recognition by global institutional clients of our in-depth knowledge of the Iberian market and our commitment to provide an excellent service".
On the other hand, BBVA ranks 2nd in the "Equity Derivatives: Sales" category of the same ranking, in which it has recurrently ranked in the top 2 in the last 3 years, competing with the world's largest investment banks. This year the competition has been particularly stiff given that the concentration of the votes received by the five most active institutions is down from 50% to 40%.
This recognition has been possible thanks to a long-term strategy based on providing clients with an added value that combines analysis solutions with fast and accurate pricing, and is of particular importance considering the major movements made by our competitors in the sales, research and trading teams.
Emilio Sáinz de Baranda, global director for Equity Derivatives, is pleased that BBVA's institutional clients continue to appreciate our work and dedication in such difficult market conditions. "The market changes rapidly and we need to change and anticipate the changes. In 2015 we will once again review our value strategy with our trading and structuring colleagues in our Product Conventions. The goal is to remain in the Top 3 for another three years", said Sáinz de Baranda.
Arnaud Joubert, director for Equity Derivatives Sales Europe ex-Spain, thanked all our clients for their recognition of our commitment to their business and their needs. "This fantastic result motivates us to continue serving our clients in the best possible way and develop real collaborations with them in the long term".
The EXTEL survey is the most important one conducted on Equity. Its results are obtained from a very large sample of clients whose weight depends on the volume of their activity. 12,000 professional investors from 2,253 firms, particularly European and American, take part in this survey.