The tenth Italian Certificate Awards celebrated the great work done by the certificate industry in what was a particularly tough year, characterised by negative market performance and regulatory hurdles for everyone. But despite the challenges, investors were still treated to a number of quality issues from high profile issuers and constant networking, something they appreciated by rewarding products, services and initiatives designed to improve investor understanding and the transparency of structured products issued in Italy.

A panel of independent industry professionals examined the abundant offer of certificates, underlying assets and products of various types and decided to award Intesa Sanpaolo Private Banking, for the fifth consecutive year, with the “Best Private Distribution Network Special Prize” for having placed over the year 16 certificates on 11 different underlyings, alternating five types of pay-off and raising around a third of the entire value of the primary market. The judges underscored the company’s leadership position in terms of its share of the value of the primary market, placing certificates – all listed on the Italian Stock Exchange – in the Securitised Derivatives segment (SeDex) or on the Euro TLX Multilateral Trading Facility within a month of the closing date of the placement.

Banca IMI was instead awarded the “Ten-Year Certificate Journal Special Prize” for its consolidated presence on the market since 2006 and for having contributed to the growth of the industry through its recognised leadership of the primary market.