Latest: Abu Dhabi SPV launches structured notes

KASPRO SPV Ltd., a fully owned subsidiary of Kristal AI and an Abu Dhabi Global Market (ADGM) based special purpose vehicle, has launched its inaugural structured notes program valued at US$1.5m.

In a move that ‘positions ADGM as a competitive alternative to established financial hubs like Luxembourg and Ireland’, Kristal, a digital wealth management platform, has issued structured notes under an exempt offer. The transaction comprises five distinct payoff structures and has garnered substantial interest from a range of investors, including a Singapore-based variable capital company sub-fund and over ten clients.

‘The issuance signals strong market confidence in ADGM-based financial instruments,’ stated the issuer spearheaded by CEO Asheesh Chanda (pictured).

The success of this initial offering paves the way for ADGM to establish itself as a prominent hub for structured product issuances and custody.

Mnaara launches B2B platform for private equities

Mnaara, a leading digital investment platform, has launched a B2B solution designed to help private banks and investment advisors provide their clients with access to ‘exclusive, ethical and Shariah-compliant’ private equity opportunities via structured notes.

The notes are both bankable and transferable to assigned custodians, offering the ‘flexibility and efficiency’ required by institutional-grade investments. The solution features an integrated customer relationship management platform, enabling advisors to manage client investments, track performance, and generate comprehensive reports.

Calamos adds upside cap ranges for upcoming structured protection ETFs

Calamos Investments LLC, a Chicago-based alternatives manager, today announced the estimated upside cap-ranges for the Calamos S&P 500 Structured Alt Protection ETF – January (CPSY), and the Calamos Russel 2000 Structured Alt Protection ETF – January (CPRY). 

Each providing 100% downside-protected exposure to their respective indexes with attractive upside cap ranges over a one-year outcome period, before fees and expenses.

The CPSY has an estimated upside cap range of 7.45%-7.89% over the one-year outcome period following its launch on 2 January 2025. Meanwhile, CPRY has an estimated upside cap range of 9.08%-9.73% over the one-year outcome period following its launch on 2 January 2025.

BlackRock, STOXX co-launch ETF on AI

STOXX has expanded its collaboration with BlackRock to launch two iShares ETFs tracking the STOXX Global AI Infrastructure and STOXX Global AI Adopters and Applications thematic indices.

The STOXX Artificial Intelligence (AI) Suite of thematic indices provides exposure to companies across the full AI value chain, from building block components such as semiconductors, cloud computing and big data technologies, to adopters in industries that look set to benefit the most from the advancement of the technology.

Index construction leverages the STOXX Thematics Framework that uses revenue and/or patent-based approaches to capture a diverse range of companies at various stages of their AI adoption.

d-fine joins the SSPA

The Swiss Structured Products Association (SSPA) has welcomed d-fine as a new member, bringing its network to a total of 52 members from the entire value chain, from issuers, trading platforms and the buy-side to brokers and partners.

d-fine is a European consulting firm headquartered in Frankfurt am Main, which employs more than 1,500 employees in seven countries (70+ in Switzerland). The firm serves customers from the conceptual planning through to implementation, among others in the areas of banking & capital markets, insurance & asset management and technology.

Euronext rolls out total return futures on the FTSE MIB Index      

Euronext has launched total return futures (TRF) on the FTSE MIB Index, FTSE Russell’s primary benchmark for the Italian equity market. It builds on the success of the TRF on the CAC 40 Index, which Euronext introduced as its first TRF on a national benchmark in November 2018. By introducing TRF on the FTSE MIB Index, Euronext further expands its European derivatives offering across European markets, in line with its new strategic plan, Innovate for Growth 2027.

The FTSE MIB Total Return Future is a listed solution that enables investors to gain exposure to the implied equity repo rate on the constituents of the FTSE MIB Index in a transparent and secure trading environment via a centralised order book. The contract offers long-term exposure, with quarterly maturities available for up to ten years, catering to the needs of long-term investors. 

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