Best site for convertibles: Deutsche Bank
Runner-up: UBS Warburg
Deutsche Bank's convertibles site, dbconvertibles.com, is still the best in the market. This is the third year in a row that Deutsche has won the award but its competitors are catching up and its once substantial lead has been greatly reduced.
The Deutsche Bank site offers a larger universe of convertibles for trading than any of its competitors and is the only one whose trading function can be described as global. dbconvertibles.com offers up-to-the-second pricing and analysis on nearly 2,000 convertibles from Europe, the US, Asia, and Japan.
Unlike its competitors, dbconvertibles.com offers trading to clients in Asia as well as Europe and hopes to start trading in the US in early 2003. Trades are limited to a maximum value of e250,000. Large clients of all convertibles sites are generally uninterested in the trading tools offered but smaller clients, especially European private banks, are keen users. Trading is simple and the design of the site enables users to access all the relevant research and analytics tools easily.
The site is easy to navigate and includes a number of other useful features. Users can upload a portfolio for detailed and customizable analysis and there is also a detachable news ticker that displays links to all the latest relevant news, research notes, and new-issue valuations.