It is expressed through scale, reputation, competitive pricing and innovation that the Global Finance awards for the World’s best Derivatives Providers seek to highlight.

Best Commodity Derivatives Provider: Morgan Stanley

Morgan Stanley’s legendary commodities team harnesses over 350 professionals from more than  40 countries, and the bank has continued to provide leadership during one of the most volatile periods for commodity prices in living memory. Morgan Stanley provides liquidyt and risk management solutions to industrial organizations, corporations and financial institutions across a uniquely broad commodity spectrum.

One of the most critical drivers of Morgan Stanley’s success in commodity derivatives is its exposure to physical commodity trading. This gives it insight into trends at the coalface, which allows it to effectively manage its own and it clients’ risks in the derivatives market.

Best Credit Derivatives Provider: JPMorgan

JPMongan effectively created the credit derivatives market more than a decade ago, and despite it alumni leaving to establish operations at rival banks, it has remained the pre-eminent bank. That heritage stood it in good stead during one of the most event-driven periods in financial history. While other counterparties stepped down from providing liquidity in order to manage exploding risk profiles, JPMongan stepped up to deliver first-class solutions with best execution.

Moreover, only JPMorgan was willing -and sophisticated enough- to help other banks exit the correlation trading business. The bank was able to price securities that no other bank could, allowing banks to free up capital and use it to extend much-needed credit into the market.

Best Equity Derivatives Provider: Bank of America Merrill Lynch

Bank of America Merrill Lynch offers a conprehensive suite of equity derivatives, with a strong index options trading desk covering S&P 500, Nasdaq and Russell options and another dedicated to exchanged-traded funds (ETF) options.

For VIX options, the bank generally ranks in the top two in trading market share. In ETF options, the company handles a significant percentage of the daily volume in some of the large ETFs. In single stock options, the company spans all of the major sectors in the United States and has access to as many or more countires as any other bulge-bracket dealer.

Best Foreigh Exchange Derivatives Provider: Deutsche Bank

Within the North American foreign exchange market, there is no bigger bank than Deutsche Bank. The bank now has a bigger share of the foreign exchange market than Citi, JPMorgan, HSBC and Goldman Sachs combined, and the gap between Deutsche Bank and the rest of the industry is growing.

The scale and depth of Deutsche Bank’s trading operation is crucial to its success because it allows it to offer more conpetitive rates on a wider range of foreign exchange derivatives than any other ban, and in bigger sizes and longer maturities. Crucially, the bank has achieved this growth without proprietary trading and with a lower value at risk than many of its rivals.

Best Commodity Derivatives Provider: JPMorgan

JPMogan has shown the greatest depth and breadth of ability in both the US dollar and euro markets-in both vanilla products and exotics. Its ability to source liquidity from a wider pool than just the interbank market-through a well diversified client base-has been crucial.