Risk institutional investor rankings 2013

Dealers have been cheered by the return of volatility to Japan’s slumbering markets, but ongoing global reforms to bank supervision and derivatives markets are the backdrop to this year’s rankings – and have shaken up some categories. Deutsche Bank retains top spot, with JP Morgan again second. By Tom Newton, with research by Max Chambers

With economic growth, volatility and trading volumes all stagnant last year – and interest rates and inflation drifting south – derivatives dealers worried that Europe was at risk of what some economists call Japanification: a self-sustaining economic malaise, characterised by deflation and low or zero growth.

Ironically, Japan may not be the best example of the phenomenon at the moment. The election of Shinzo Abe as the country’s prime minister in December last year – with a mandate to