The financial markets performed better in 2013 than previous year, thanks to a reduction in the sovereign risk premiums, above all in European countries. However, volatility remained high, mainly in the first half of the year, with equity prices falling in the Spanish and European markets, although they picked up in the second half of the year. Against this backdrop, the function of risk control in market activities has taken on a special importance.
The activity of each of the Group’s trading floors is controlled and monitored from the risk unit in terms of the possible impact of negative market conditions, both under ordinary circumstances and in situations of heightened risk factors.
