Three primary market products worth an estimated €3m had strike dates in the Netherlands in April, down from 23 products with a combined volume of €43m that struck in March.

There were also five flow and 4,450 leverage products added. There were no maturities during the month. Van Lanschot Kempen blamed ‘exceptional’ volatility in certain segments of the financial markets for pre-tax losses of €21.9m in its structured product portfolio. The extreme volatility and illiquidity of the markets in March made it impossible to make timely adjustments to these hedges, causing losses to mount, as in normal market conditions, this portfolio does not typical

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