Insights

Stories, insights and analysis of the major trends shaping structured products markets.

Industry Insights

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Stay on top of the latest structured product market developments and trends with all major product, technology, legal and industry insights in one place.

People

See key hires and staffing changes.

People
Arrivals and departures: top moves of 2024 – Morgan Stanley, Natixis, Nomura

14 January 2025

Arrivals and departures: top moves of 2024 – Morgan Stanley, Natixis, Nomura

As 2025 begins, SRP looks back at last year’s most relevant people moves highlighting new hires and exits at the main issuers of structured products.

People
Merrill names head of capital markets, launches UHNW advisory team

13 Jan 2025

Merrill names head of capital markets, launches UHNW advisory team

The wealth veteran returning from Citi will lead the capital markets including market-linked investments (MLIs) and work closely with Merrill’s new UHNW advisory group.

People
Arrivals and departures: top moves of 2024 – Leonteq, Marex

13 Jan 2025

Arrivals and departures: top moves of 2024 – Leonteq, Marex

As 2025 begins, SRP looks back at last year’s most relevant people moves highlighting new hires and exits at the main issuers of structured products.

People
Arrivals and departures: top moves of 2024 – J.P. Morgan

10 Jan 2025

Arrivals and departures: top moves of 2024 – J.P. Morgan

As 2025 begins, SRP looks back at last year’s most relevant people moves highlighting new hires and exits at the main issuers of structured products.

People
People: UBS boosts Japan structured products business, HSBC completes WPB reorganisation

10 Jan 2025

People: UBS boosts Japan structured products business, HSBC completes WPB reorganisation

Also: HSBC completes wealth & private banking reorganisation; Bollinger confirmed as Juliues Baer new chief executive; HK Exchange appoints head of markets.

Products

An in-depth review of the latest product launches.

Products
SIX structured product listings achieve record high, Vontobel remains top issuer

14 January 2025

SIX structured product listings achieve record high, Vontobel remains top issuer

More than a third of total turnover from investment products was linked to tracker certificates.

Products
Annuities roundup: Ibexis introduces prop indices designed by UBS, Barclays

15h

Annuities roundup: Ibexis introduces prop indices designed by UBS, Barclays

Plus: Global Atlantic brings another Rila; Limra forecasts FIAs slowdown; Salt Financial unveils best index performers; Milliman finds sharp increases in surrender rates.

Products
Product wrap: Natixis, SG offer capital protection in France

10 Jan 2025

Product wrap: Natixis, SG offer capital protection in France

In this week’s wrap we look at a selection of structured products with strike dates between 5-11 January 2025.

Products
Nearly 90% of German discount certificates deliver positive returns

09 Jan 2025

Nearly 90% of German discount certificates deliver positive returns

More than 87% of discount certificates generated a positive return in 2023, according to a report commissioned by the German Bundesverband für strukturierte Wertpapiere (BSW).

Products
Garantum autocall analysis challenges regulator’s findings

06 Jan 2025

Garantum autocall analysis challenges regulator’s findings

The Swedish structured products industry has reacted rather timidly to the paper about autocalls released by the Swedish financial regulator in late November.

Regulation

Updates and commentary on evolving market regulation.

Regulation
South Korea’s largest labour union calls for more ELS, DLS rules

3 January 2025

South Korea’s largest labour union calls for more ELS, DLS rules

Its latest working paper proposes to ban selling high-risk structured products with unilateral downside risk to the general public.

Regulation
Australian regulator sues Binance over customer protection failures

23 Dec 2024

Australian regulator sues Binance over customer protection failures

ASIC has taken Binance Australia Derivatives to the federal court following the alleged mis-classification of retail investors to wholesale investors while investors were trading crypto derivative products.

Regulation
UK regulator to phase out Priips in shift from EU

20 Dec 2024

UK regulator to phase out Priips in shift from EU

A new regime will replace the current retail investor disclosure framework as it continues to diverge from the European Union .

Regulation
Leonteq to pay US$10m for breaching risk management, suitability obligations

12 Dec 2024

Leonteq to pay US$10m for breaching risk management, suitability obligations

Finma has ordered the structured products provider to halt its existing relationships as well as new business with unregulated distributors.

Regulation
Ex-Allianz senior manager spared prison in Structured Alpha saga

10 Dec 2024

Ex-Allianz senior manager spared prison in Structured Alpha saga

The co-lead manager of the structured fund has avoided prison time due to health issues regarding a multi-billion-dollar fraud scheme.

Technology

Discover technological advances in the industry.

Technology
Australia’s Stropro gears up for capital raise for global expansion

23 October 2024

Australia’s Stropro gears up for capital raise for global expansion

The Sydney-based structured product investment platform makes key hires for its global push roadmap and develops AI-powered tools.

Technology
Arta deploys AI copilot, goes global

15 Oct 2024

Arta deploys AI copilot, goes global

The US digital wealth management platform has partnered with Abu Dhabi's Wio Invest to launch wealth-as-a-service for banks globally.

Technology
Korea’s Qraft Technologies capitalises on AI-powered strategies for asset allocations

14 Aug 2024

Korea’s Qraft Technologies capitalises on AI-powered strategies for asset allocations

The Seoul-based AI fintech firm has co-designed an AI-powered index with Solactive to replicate a hedge fund’s long-short investment strategy, which has been deployed via structured products sold in Korea.

Technology
Part 2 - 3AI: passive investing enters new phase as "intelligent" indices evolve

07 Aug 2024

Part 2 - 3AI: passive investing enters new phase as "intelligent" indices evolve

The UK AI company is "scientifically pioneering" the future of alpha intelligence for passive investing as well as developing new enhanced indices.

Technology
3AI enters partnership to launch AMC, goes global with Barclays on alpha tilted indices

06 Aug 2024

3AI enters partnership to launch AMC, goes global with Barclays on alpha tilted indices

The UK artificial intelligence company has entered into a partnership to launch an actively managed certificate (AMC) and expanded the deal with Barclays on alpha tilted indices globally.

Market

Key industry events and change drivers.

Market
SRP in brief: at a discount

13 January 2025

SRP in brief: at a discount

Discount certificates, the latest people moves, market reviews, and more from SRP’s newsdesk.

Market
Latest: HK’s Goldhorse adds educational function, French fintech launches Luxembourg hub

08 Jan 2025

Latest: HK’s Goldhorse adds educational function, French fintech launches Luxembourg hub

Also: Samsung Securities rolls out three Dow Jones ETNs; BBVA’s Garanti launches warrants suite on Borsa Istanbul; Citi invests in OTC FX options trading platform.

Market
Digital assets: EBA gauges tokenised deposits, Matrixport issues double no touch play

07 Jan 2025

Digital assets: EBA gauges tokenised deposits, Matrixport issues double no touch play

Plus: Calamos debuts fully protected crypto tracker; GSR gets the greenlight from UK FCA to provide OTC trading service; and more.

Market
 ISS STOXX: focus will be on long-term solutions rather than quick-fix approaches

07 Jan 2025

ISS STOXX: focus will be on long-term solutions rather than quick-fix approaches

The European index and data provider sees the structured products market as a competitive space where innovation is a differentiator to diversify market exposures and deliver new investment strategies to institutional and retail investors alike.

Market
SRP in brief: new players, products to kick off new year

06 Jan 2025

SRP in brief: new players, products to kick off new year

Yield enhancement products continue to dominate in the European market, while South Korea’s largest labour union calls for more ELS and DLS rules. Plus, American Insurance firm Pacific Life launches its first registered index-linked annuity.

Data Insights

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Leverage SRP’s data analysis, backed by the world’s structured product database, for an in-depth view of the market’s key trends and dynamics.

Market Reviews

An in-depth view of market activity in some of the world’s most dynamic markets.

Market Reviews
Hong Kong Market Review, December 2024: listed market wraps up lukewarm, Nvidia tops ELI issuance

14 January 2025

Hong Kong Market Review, December 2024: listed market wraps up lukewarm, Nvidia tops ELI issuance

Chinese mainstream companies’ stocks continued to be the top picks for CBBCs and structured warrant issuance.

Market Reviews
Taiwan Market Review, Q4 2024: stocks dominate equity-linked activity

13 Jan 2025

Taiwan Market Review, Q4 2024: stocks dominate equity-linked activity

Autocallable notes tracking a basket of stocks continued to rule the Taiwanese market in the fourth quarter, led by underlying assets like Pfizer, TSMC, and Tesla.

Market Reviews
South Korea Market Review, December 2024: principal-protected ELB sales spike as investors flock into retirement...

09 Jan 2025

South Korea Market Review, December 2024: principal-protected ELB sales spike as investors flock into retirement...

Sales of principal-protected equity-linked bonds continue to skyrocket at year-end while capital-at-risk equity-linked securities drop.

Market Reviews
UK Market Review, November 2024: Citi on top, Hilbert autocall delivers 14%

08 Jan 2025

UK Market Review, November 2024: Citi on top, Hilbert autocall delivers 14%

The US bank increased its market share by almost 17 percentage points YoY.

Market Reviews
China Market Review, November 2024: XAU/USD pair continues to rule, HSBC deploys new Nasdaq risk control play

19 Dec 2024

China Market Review, November 2024: XAU/USD pair continues to rule, HSBC deploys new Nasdaq risk control play

Over 28% of the structured retail deposits issued last month track the exchange rate gold (XAU) to US dollar (USD) pair.

Analysis

Explore key market themes backed by SRP’s proprietary analysis.

Analysis
Spotlight on… top S&P 500 gainers

10 January 2025

Spotlight on… top S&P 500 gainers

We look at the structured products issuances linked to the five best-performing stocks within the S&P 500 in 2024.

Analysis
Credit structures: single names v indices

08 Jan 2025

Credit structures: single names v indices

Credit-linked structured products offer investors the opportunity to pursue significantly higher yields compared to the risk-free rate and provide an alternative to traditional corporate bond investments.

Analysis
Europe Q3 2024 (part 2): yield enhancement dominates as capital protection declines

03 Jan 2025

Europe Q3 2024 (part 2): yield enhancement dominates as capital protection declines

In the second part of our Europe market analysis, we look at the product type mix and the payoffs which have driven activity in the third quarter of 2024.

Analysis
Spotlight on… capital protection in Asia Pacific

20 Dec 2024

Spotlight on… capital protection in Asia Pacific

Capital protection products have seen an increasing in sales volume in 2024 across Asia Pacific markets ex-China driven by the shift away from capital-at-risk products by Korean investors.

Analysis
Best-sellers Apac 2024: FX linked deposits rule in China, autocalls remain top seller across the region

16 Dec 2024

Best-sellers Apac 2024: FX linked deposits rule in China, autocalls remain top seller across the region

We review some of the best-selling products across Asia Pacific (Apac) markets year-to-date based on SRP data.

Special Reports

Our special reports provide in-depth analysis and actionable insights on emerging trends and market dynamics. Each report is meticulously researched, offering valuable perspectives that help you stay informed with access to exclusive data and expert commentary.

SRP Wrapper Guide Americas 2024
SRP Wrapper Guide Americas 2024

The SRP Wrappers Report Americas 2024 provides an in-depth analysis of the structured investment product wrappers across key markets in the Americas, highlighting regional trends, regulatory developments, and market performance.

SRP Global Market Overview - H1 2024
SRP Global Market Overview - H1 2024

The SRP Global Market Review H1 2024 provides an extensive analysis of structured product markets worldwide, highlighting key trends in capital protection, equity-linked products, and regional sales performance.

France Structured Products Performance Overview
France Structured Products Performance Overview

The SRP French Market Report 2024 analyses the structured products landscape in France, focusing on key trends, regulatory developments, and the growing popularity of equity-linked and capital-protected solutions.