Winners of 14th Annual Spire Awards
Excellence in South Africa's fixed income, currency and commodity derivatives markets
Johannesburg, Friday 23 October 2015 – The results of the 14th annual Spire Awards, recognising excellence in South Africa's fixed income market, were announced at a gala dinner last night.
Absa Capital took honours across the board, winning overall Best Fixed income and Currencies House, with RMB in second place, and Standard Bank coming in third. Absa Capital also won Best Bonds House; Best Research House; Best Interest Rate Derivatives House among its many other first place positions. Standard Bank wins best Forex House.
The awards are voted on by clients of the fixed income houses, are presented by the Johannesburg Stock Exchange (JSE), and sponsored by Bloomberg.
"The JSE congratulates the wide range of award participants and winners, ranging from brokers, researchers, and sales teams to issuers" says Bernard Claassens: Manager Fixed Income at the JSE. "The fixed income market is an important component of South Africa's financial landscape and most South Africans will have some form of exposure to this asset class through their various retirement and investment funds."
Claassens comments that the South African bond market is currently providing some interesting times for its participants, both local and foreign, as the country faces a weakening currency, falling commodity prices, rising inflation expectations, low economic growth, the threat of credit-rating downgrades, as well as cautious interest rate moves from the US Federal Reserve.
For the nine months to September 2015, the bond market has seen trading of R 18 trillion, comprising of R12.25 trillion in the Repo market and R5.75 trillion in the Spot market. Bonds to the value of R181.75 billion have been issued on the JSE's bond market in the period until end September, with corporates accounting for R95.6 billion of this issuance.
"Bloomberg's goal of bringing transparency to capital markets and contribute to their successful development has always driven what we do on the African continent, and supporting the Spire Awards is very much a part of that. We are very proud of the close relationships we have built in South Africa with the fixed income and foreign exchange communities, and would like to congratulate this year's winners for their outstanding achievements," says Keith Thompson, Head of Sales, Bloomberg L.P. Southern Africa.
The winners for 2015 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|
The Category Winners for the 2015 Spire Awards are as follows:
|Best Market Making Team - IRD||Absa Capital|
|Best On-Screen Market Making Team - IRD||Rand Merchant Bank|
|Best Sales Team - IRD||Absa Capital|
|Best Market Making Team - FX||Absa Capital|
|Best On-Screen Market Making Team - FX||Standard Bank |
|Best Sales Team - FX||Standard Bank|
|Best Research Team - Economics||Absa Capital|
|Best Research Team - Fixed Income||Rand Merchant Bank|
|Best Research Team - Credit||Absa Capital|
|Best Research Team - FX||Absa Capital|
|Best Research Team - Technical Analysis (FX, IRD, Bonds)||Nedbank|
|Best Research Team - Quantitative Research||Avior|
|Best Research Team - Africa||Rand Merchant Bank|
|Best Inter Dealer Broker - Bonds||Tradition |
|Best Inter Dealer Broker - IRD||ICAP |
|Best Agency Broker - Spot Bonds||Sasfin |
|Best Agency Broker - Listed FX Derivatives||Peregrine Securities|
|Best Agency Broker - Listed IRD Derivatives||Prescient Securities|
|Best Issuer - Bonds||Firstrand Bank|
|Best Broker - Listed Commodity Derivatives||RMD Financial Services|
|Best Market Making Team - Cash Settled Commodity Derivatives||Rand Merchant Bank|
|Best Agency Broker House||Prescient Securities|
|Best Inter Dealer Broker||ICAP|
|Best Structuring Team - Inflation\Credit\FX||Rand Merchant Bank|
|Best Research House||Absa Capital|
|Best FX House||Standard Bank|
|Best IRD House||Absa Capital|
|Best Bonds House||Absa Capital|
|Best Fixed Income and Currencies House||Absa Capital|
The Johannesburg Stock Exchange is based in South Africa where it has operated as a market place for the trading of financial products for 125 years. It connects buyers and sellers in equity, derivative and debt markets. The JSE is one of the top 20 exchanges in the world in terms of market capitalisation and is a member of the World Federation of Exchanges (WFE). The JSE offers a fully electronic, efficient, secure market with world class regulation, trading and clearing systems, settlement assurance and risk management.
H+K Strategies South Africa
Tel: +27 11 463 2198
Manager: Fixed Income
Bonds and Financial Derivatives
Tel: 011 520 7810