2022 was another bumper year for structured products in the US market with sales volumes reaching levels only bettered once in the past 17 years.
The Swiss multi-issuer platform technology provider is seeking to expand its footprint in the US/Latam offshore markets with its dedicated structured products platform.
As the US retail structured products market continues to grow regulators have turned their attention to complex products and disclosures.
The US investment bank’s markets revenues in Q4 2022 were up 18% YoY, despite reduced client activity in equity derivatives.
The US investment bank sold US$2.7 billion worth of retail structured products in its domestic market during Q4 2022, down 9.8% year-on-year, which has led to a record-high sales volume of US$14.5 billion on a yearly basis.
It was a year of fine margins in the US where the top three issuer groups were separated by 1.3 percentage points only.
Following our recent article on high performing popular underlying assets in the US equity structured products market, we now look at the other end of the performance table, concentrating on those that have had the lowest performance over the past year.
Citi was the only issuer with sales topping US$1 billion in November as investor demand for capital protection and structures on single indices continued to increase.
The bill to streamline regulatory paperwork for index-linked annuities approved by the US Senate is now waiting a vote in the House of Congress.