Purpose and objectives
The Bundesverband für strukturierte Wertpapiere (BSW, Structured Securities Association) is the industry body which represents the leading issuers of structured securities in Germany. Its work is supported by more than twenty sponsoring members, amongst which are exchanges and direct banks. Based in Berlin, Frankfurt and Brussels, the BSW has the mandate to elaborate self-regulatory standards such as the Fairness Code which is observed by the issuers with respect to the structuring, issuing, marketing and trading of structured securities. Transparency and education of retail investors is at the heart of its mission.
BSW’s members are among the most important certificate issuers in Germany. Furthermore, the Association’s work is supported by more than twenty sponsoring members, which include the exchanges in Stuttgart, Frankfurt and gettex, Baader Bank, the direct banks comdirect bank, Consorsbank, flatexDEGIRO, ING-DiBa, maxblue, S Broker, Smartbroker Trade Republic the finance portals finanzen.net and onvista, as well as other service providers.
BSW’s aim is to improve the general political and regulatory conditions for structured products in Germany and at European level, and to encourage increasing numbers of private investors to choose structured products. The objectives of BSW therefore include the enhancement of understandability and transparceny, as well as protecting investors.
BSW is an advocate of self-regulation, and it works in conjunction with its members and sponsoring members to set industry standards.