The Eurostoxx 50 index, one of the most widely used underlying assets in the structured products market globally, is having a rough ride as product issuers accelerate the de-risking of their trading books.
The European flagship index has appeared consistently in the global top three underlying ranking over the last five years and, in 2020, was also among the top 5 underlyings globally by market share. However, since early 2020 the Eurostoxx50 has seen a steady decline in sales which has been followed by a dramatic fall in issuance since the beginning of 2021 – as a result more than €6 billion has not been reinvested in the index. The fall from grace as the top underlying of structured
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