Research Services and Price List MIFID II · Research Services and Price List MIFID II. Fixed Income Research Services 16254 – Fixed Income Research & Strategy ... Monthly Public
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Fixed Income Research Services16254 – Fixed Income Research &
� MIFID II, which comes into force on 3 January 2018, requiresthat research service fees be charged separately fromdealing commissions, as has been the case to date to ensureabsolute transparency and optimal oversight of potentialconflicts of interest.
� Generally speaking, the ESMA deems payment for research to represent a unpermitted incentive, and therefore research services will have to be charged for on a separate basis, provided that a series of aspects regarding content quality and the recommendations detailed in this report are in place.
� The attached document provides an overview of our research services, with a brief explanation of our various reports and their content, as well as a list of prices should you wish to continue receiving our reports.
� Should you have any queries, or require further information, please contact our fixed income sales and/or research teams.
• We have a team of 6 fixedincome analysts working as partof our CaixaBank CIB Division.
• The team focuses on analysis ofdomestic issues, with thesupport of our fixed incomesales team to provide servicethe bank's instuitional andcorporate clients.
• The team has been workingtogether for more than 10 yearson the analysis of Spanishcompanies and issuers.
• It boasts extensive expertise inthe local market, ensuringregular generation of investmentideas (absolute and relativevalue).
• Regular coordination with ourEquity Research, Treasury andStrategic Planning and MacroEconomy divisions providesgreater depth and coherence toour reports.
The Team
• Coverage includes the widerange of Spanish issuers(corporates, FIG & SSA),generating investmentrecommendations for fixedincome issues on the Iberianmarket.
• Our coverage encompassesperiphery public sector treasury(Spain, Portugal and Italy),regional governments andagencies, as well as privatesector issuers, such as Iberiancorporates (IG and HY) and FIG,with total coverage of 36 issuers(more than 90% of outstandingissues on the Spanish andPortuguese credit markets).
• We provide a strategic vision ofthe Iberian market, with furtherexpertise and experienceprovided by our StrategicPlanning and Macro Division.
• Greater emphasis on thebottom-up approach.
Coverage
• Fundamental analysis.
• Access to the various reportspublished via our researchwebsite: www.caixabankcib.com
• Access to our valuation models.
• Access to our analysts,depending on the asset ofinterest to the client.
• Events involving our analystsand the CaixaBank StrategicPlanning and Macro Division.
• Generation of model portfoliosand trading ideas.
• Access to and participation inevents related with thecompanies and public issuersunder our coverage universe.
• Segmentation of theaforementioned services basedon our clients' requirements.
Services Provided
Fixed Income Research Services16254 – Fixed Income Research &