German banks add estimated values to PIBs

HSBC Trinkaus goes it alone with the provision of daily estimates

photo of wolfgang gerhardt
Wolfgang Gerhardt, Bank Vontobel

The German structured products market took a step forward in terms of transparency on May 1 with the introduction of issuer estimated value (IEV) for all investment products distributed to mass retail customers that require a Produktinformationsblatt (PIB) – the mandatory three-page disclosure summary document required by Bafin, Germany's financial markets regulator.

The disclosure of IEV is a voluntary measure adopted by all members of the Deutscher Derivate Verband (DDV), a national trade asso

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