Germany: certificate volumes spike driven by retail demand

Some 22,800 structured products (excluding flow and leverage) were publicly offered in Germany during 2023, an increase of 12% compared to the previous  year when 20,280 products were available to German retail investors. The big three German manufacturers – LBBW, Deka Bank, and DZ Bank – issued a combined 7,335 products , and with the addition of Helaba and NordLB, who were also active in the period, they were responsible for 33% of the total issuance in 2023. However, issuanc