Structured products performed well in Q2 2020, especially in Japan where sales volumes increased almost tenfold, according to SRP data.
BNP Paribas has reported a very strong growth in derivatives activity, particularly in structured products, in the second quarter of 2021. Although global markets revenues of €1.9 billion (US$2.2 billion) decreased by 17.4% compared to ‘an exceptional’ Q2 2020, they rose by 35.2% compared to the second quarter of 2019. Primary market activity was driven by a good level of global bond volumes – up 15% from the 2019-2020 quarterly average – and a normalising of rates,