Energy/commodity derivatives house of the year: Deutsche Bank

Richard Jefferson

The middle of 2012 saw a tremendous spike in demand for gold, silver and bronze – fierce competition for these assets saw records toppling in dramatic style in the space of just a few weeks. But that’s typically what happens at the Olympics. In contrast, markets for precious metals – and for commodities more broadly – were relatively stable throughout the year, with trading volumes and revenues under pressure.

Coupled with new capital and liquidity pressures, many banks chose to hunker down or b