research studies

02/03/2012
Morning Note 03.02.2012: Market Comment, Deutsche Boerse, Munich Re, SMA Solar,
02/02/2012
Deutsche Bank: Weaker than expected fourth quarter
02/02/2012
Exchanges: NYSE Euronext & Deutsche Boerse: Digesting the non-merger scenario, NYSE announces share buyback.
02/02/2012
Exchanges: Monthly performance continues the slide; clearly down on YoY basis
02/02/2012
Infineon: We do not believe that Q1 figures’ expected deterioration is yet (near) the bottom
02/02/2012
Morning Note 02.202.2012: Market Comment, Automotives, Deutsche Bank, Deutsche Boerse, Exchanges, Munich Re, NYSE Euronext,
02/02/2012
Munich Re: Unspectacular figures and renewal results – D/G to Neutral (Buy) after strong performance
02/01/2012
Deutsche Boerse: (B, PT EUR 59) D-Day
02/01/2012
Hannover Re: Solid renewal results, but no significant positive surprise on first glance
02/01/2012
Kuka: Downgrade for valuation reasons after prelim figures – CFO resignation adds to uncertainty

KWG-Licence

Silvia Quandt & Cie. AG operates in Germany as an intermediary bound by contract according to §2 of the KWG on account of biw Bank für Investments und Wertpapiere AG. as far it provides these services which are accounted for as investment brokerage and contract brokerage as well as placement business in terms of §1, 1a sentence 2 No. 1,1c and no.2 KWG. Designated sponsoring mandates are covered by our
partner biw AG.

Being a universal bank (Vollbank) for years, biw AG is familiar with virtually all facets of securities business. In Investment Banking, this technical expertise is now completed by Silvia Quandt & Cie. AG’s staff profound knowledge and its long-standing experience with admissions as intermediary bound by contract.

According to the German Banking Act (KWG), biw AG is authorized for all banking operations (universal bank) and affiliated to the deposit guarantee fund of the Federal Association of German Banks.

Due to the takeover of the complete bond handling of numerous credit institutes, biw-Bank possesses experience with high-volume settlements. As a transaction and service bank it offers a wide range of services in account and securities keeping, money transfers as well as bond and fund custody. biw-Bank is a member of XETRA, all German trading floors, EUREX, T.I.Q.S. and has access to American stock markets (NYSE, NASDAQ, AMEX) and therefore assures international advantage.