Sunrise Brokers voted overall number one equity products broker of the year by Risk for the sixth consecutive year REPRINTED FROM

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1 REPRINTED FROM RISK MANAGEMENT l DERIVATIVES l REGULATION Sunrise Brokers voted overall number one equity products broker of the year by Risk for the sixth consecutive year SEPTEMBER 2012

2 The usual names fought for the usual product categories in this year s rankings and many of the usual winners emerged. But the interdealer broker market is on the cusp of dramatic change. By Joe Rennison Calm before the storm Sunrise is known predominantly as an equity specialist and it topped the equity derivatives categories in this year s poll, landing 13 first places out of a total of 16. The firm did not win any categories in other asset classes, but David Gibbs, managing partner at Sunrise, says it is expanding, having added rates and hybrid desks recently. Volumes over the past year are down on previous years but, because we are smaller than some of our competitors, there is still plenty of room for us to expand into areas where business is strong, he says. n First positions INTEREST RATES Short-term Interest rate Interest rate Interest rate Interest rate Inflation Repurchase Cross-currency interest rates swaps 2 10 years swaps 10+ years options exotics agreements swaps Icap Tullett Prebon BGC 3 Gottex Tradition 1 1 currencies Currency swaps Currency options Currency forwards Currency exotics Tullett Prebon GFI Icap 1 Tradition-Icap 1 equity derivatives OTC single-stock equity options Equity index options Exotic equity products Sunrise GFI 2 Tradition 1 credit derivatives Credit default swaps GFI 2 Tullett Prebon 7 1 Reprinted from Risk September 2012

3 Interest rate Products Interest rate exotics Euro 1 5 UBS Icap 2 4 BNP Paribas sunrise Brokers 3 1= Deutsche Bank Tradition 4 Société Générale Royal Bank of Scotland 10.3 Yen 1 2 Deutsche Bank Icap 2 UBS = sunrise Brokers 3 Nomura = 2 Tradition 4 Bank of Tokyo Mitsubishi UFJ Mizuho Securities 10.8 Sterling 1 1 Barclays Icap 2 2 Royal Bank of Scotland sunrise Brokers 3 5 Deutsche Bank Tradition 4 Société Générale HSBC 9.4 EQUITY Products OTC single-stock equity options US 1 1 Société Générale Sunrise Brokers 2 2 BNP Paribas Icap 3 5 JP Morgan Tradition 4 3 Goldman Sachs Bank of America Merrill Lynch 10.5 Europe 1 1 Société Générale Sunrise Brokers 2 2 BNP Paribas GFI 3 5 Morgan Stanley Tradition 4= Barclays = 4 Deutsche Bank 10.2 Asia 1 1 Société Générale Sunrise Brokers 2 2 BNP Paribas Tradition 3 Nomura BGC 4 Deutsche Bank Goldman Sachs

4 EQUITY Products continued Equity index options DJ Euro Stoxx Société Générale Sunrise Brokers 2 2 BNP Paribas GFI 3 Morgan Stanley Tullett Prebon 4= Credit Suisse = 5 JP Morgan 10.0 S&P Société Générale Sunrise Brokers 2= 2 BNP Paribas Tradition 2= 3 JP Morgan Tullett Prebon 4 5 Morgan Stanley Goldman Sachs 9.7 FTSE Société Générale Sunrise Brokers 2 Royal Bank of Scotland Tullett Prebon 3 Morgan Stanley Tradition 4 2 BNP Paribas Barclays 9.4 Nikkei Nomura Tradition 2 1 Société Générale Sunrise Brokers 3 2 BNP Paribas Tullett Prebon 4 Morgan Stanley Bank of America Merrill Lynch 9.4 SMI 1 1 Société Générale GFI 2 2 BNP Paribas Tradition 3 4 UBS Sunrise Brokers 4 Morgan Stanley Credit Suisse 10.0 Dax Deutsche Bank Sunrise Brokers 2 2 Société Générale Tullett Prebon 3 3 BNP Paribas GFI 4 Morgan Stanley Royal Bank of Scotland 10.6 Cac Société Générale GFI 2 2 BNP Paribas Tradition 3 Morgan Stanley Sunrise Brokers 4 Deutsche Bank Natixis Reprinted from Risk September 2012

5 EQUITY Products continued Equity index options CONTINUED Hang Seng 1 1 Société Générale Sunrise Brokers 2 2 BNP Paribas Tradition 3 5 Nomura Tullett Prebon 4 Morgan Stanley HSBC 10.4 Exotic equity products Exotic single-stock options 1 1 Société Générale Sunrise Brokers 2 2 BNP Paribas Tradition 3 Deutsche Bank GFI 4 Barclays Nomura 10.3 Exotic index options 1 1 Société Générale Sunrise Brokers 2 2 BNP Paribas = 2 GFI 3 5 JP Morgan = 3 Tradition 4 Nomura Barclays 10.3 Other exotic equity options (worst-of, basket, cliquet, etc) 1 1 Société Générale Sunrise Brokers 2 2 BNP Paribas Tradition 3= 3 JP Morgan GFI 3= Nomura Deutsche Bank 10.3 Volatility/variance swaps 1 2 Société Générale Sunrise Brokers 2 1 BNP Paribas GFI 3 5 Morgan Stanley Tradition 4 3 JP Morgan Deutsche Bank 10.5 Dividend swaps 1 2 Société Générale Sunrise Brokers 2 1 BNP Paribas Tullett Prebon 3 4 JP Morgan GFI 4 5 Morgan Stanley Goldman Sachs

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