Insights

Stories, insights and analysis of the major trends shaping structured products markets.

Latest Insights

Read the latest stories, insights and analysis of the major trends shaping structured products markets.

Market
SRP Asia Pacific 2025:  Personality of the Year – Tomoyuki Sasai
SRP Asia Pacific 2025: Personality of the Year – Tomoyuki Sasai

Tomoyuki Sasai, head of global markets sales in Japan at Société Générale, is the recipient of the Personality of the Year award at the 12th Asia Pacific Awards Ceremony, which is taking place on 10 June in Hong Kong SAR.

Products
Kepler Cheuvreux, Unicredit collaborate for thematic certificates in Italy
Kepler Cheuvreux, Unicredit collaborate for thematic certificates in Italy

The new range of thematic certificates offers exposure to the independent convictions of Kepler Cheuvreux Research.

Regulation
UK regulator lifts ban on crypto ETNs
UK regulator lifts ban on crypto ETNs

The UK regulator says the proposals will promote effective competition in the interests of consumers by allowing firms to compete in retail markets offering these products and providing greater investor choice.

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Industry Insights

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Stay on top of the latest structured product market developments and trends with all major product, technology, legal and industry insights in one place.

People

See key hires and staffing changes.

People
Leonteq revamps Swiss investment solutions team

03 Jun 2025

Leonteq revamps Swiss investment solutions team

The new structure aims to bring together the independent asset managers, banks, family offices and public distribution segments at the Swiss structured product provider.

People
RBC hires JPM’s QIS structuring head in US

29 May 2025

RBC hires JPM’s QIS structuring head in US

The Canadian bank is seeking to bolster its multi-asset solutions with this new-created role where quantitative investment strategy (QIS) is “a strategic priority”.

People
Exclusive: Barclays Asia EQD head departs

21 May 2025

Exclusive: Barclays Asia EQD head departs

The equity derivatives industry veteran leaves after less than two-years at the British bank.

People
People: iCapital appoints structured products head, Cboe’s head of product innovation steps down

19 May 2025

People: iCapital appoints structured products head, Cboe’s head of product innovation steps down

Also, other moves from Meleleo Consulting, Bank of Singapore, Stropro, BITA, and UBP.

Products

An in-depth review of the latest product launches.

Products
Kepler Cheuvreux, Unicredit collaborate for thematic certificates in Italy

9 June 2025

Kepler Cheuvreux, Unicredit collaborate for thematic certificates in Italy

The new range of thematic certificates offers exposure to the independent convictions of Kepler Cheuvreux Research.

Products
Product wrap: JPM enters Hong Kong market, Arkéa green bond tracks transatlantic PAB-index

06 Jun 2025

Product wrap: JPM enters Hong Kong market, Arkéa green bond tracks transatlantic PAB-index

In this week’s wrap we look at a selection of structured products with strike dates between 1-7 June 2025.

Products
Austrian open interest reaches new high

05 Jun 2025

Austrian open interest reaches new high

The strongest growth in open interest was recorded by interest-rate products and 100% capital protection certificates.

Products
SocGen expands derivative warrants range in HK

04 Jun 2025

SocGen expands derivative warrants range in HK

The French bank has expanded the currency coverage following the listing of its first US stock warrants in the city’s retail market a year ago.

Products
Annuities roundup: Florida broker found in breach of Reg BI

04 Jun 2025

Annuities roundup: Florida broker found in breach of Reg BI

Also, US indexed annuity sales and Canadian life insurance premiums are out for Q1 2025; new indices and features are added for fixed index annuity and lifer.

Regulation

Updates and commentary on evolving market regulation.

Regulation
UK regulator lifts ban on crypto ETNs

9 June 2025

UK regulator lifts ban on crypto ETNs

The UK regulator says the proposals will promote effective competition in the interests of consumers by allowing firms to compete in retail markets offering these products and providing greater investor choice.

Regulation
France: Amafi - structured products must be included in SFDR framework

05 Jun 2025

France: Amafi - structured products must be included in SFDR framework

The dealignment of regulatory requirements, according to Moschini, is an important hurdle in the distribution of these products, according to the association.

Regulation
Mayer Brown: ESG product-specific v behaviour regulation debate unresolved

28 May 2025

Mayer Brown: ESG product-specific v behaviour regulation debate unresolved

The law firm has identified two main reasons for the decline in ESG product adoption: unclear greenwashing claim risks and regulatory uncertainty, particularly around the SFDR regime.

Regulation
Esma rethinks retail investor protection

27 May 2025

Esma rethinks retail investor protection

The European regulator has launched a consultation into the retail investor experience aimed at determining how its rules are helping or hurting investors.

Regulation
SRP France 2025: decrement remains under watch

27 May 2025

SRP France 2025: decrement remains under watch

From decrement to ‘Value for Money’, panelists shared regulatory updates during the discussion at SRP France 2025 conference held in Paris last week.

Technology

Discover technological advances in the industry.

Technology
IVM Markets: high coupon rates don't equate to better performance

9 June 2025

IVM Markets: high coupon rates don't equate to better performance

Fintech is seeking to change the buy-side’s point of sale narrative.

Technology
Stropro deploys structured options play with loan facility

28 May 2025

Stropro deploys structured options play with loan facility

The new product will comprise a loan and put options issued by UBS, Morgan Stanley and Macquarie.

Technology
Arta launches Sharia-compliant Portfolios, enters Singapore

27 May 2025

Arta launches Sharia-compliant Portfolios, enters Singapore

The new 'fully customisable, theme-driven satellite strategies’ will deliver 'faith-aligned investing’.

Technology
Bloomberg: QIS remains a prominent topic

07 May 2025

Bloomberg: QIS remains a prominent topic

Rising demand for quantitative investment strategies (QIS) reflects a broader search for differentiated payoffs and customised themes in the structured products space.

Technology
Luma raises US$63m series C funding to expand alternative offerings

17 Apr 2025

Luma raises US$63m series C funding to expand alternative offerings

The US multi-issuer platform backed by five investment banks is seeking to expand its footprint in the alternative investments space with the new capital.

Market

Key industry events and change drivers.

Market
SRP Asia Pacific 2025:  Personality of the Year – Tomoyuki Sasai

10 June 2025

SRP Asia Pacific 2025: Personality of the Year – Tomoyuki Sasai

Tomoyuki Sasai, head of global markets sales in Japan at Société Générale, is the recipient of the Personality of the Year award at the 12th Asia Pacific Awards Ceremony, which is taking place on 10 June in Hong Kong SAR.

Market
SRP in brief: widening the scope

17h

SRP in brief: widening the scope

From France’s rate-linked products to Hong Kong’s listed structured products market, here’s the latest going on in the structured products industry brought by SRP’s news.

Market
Digital assets: 3iQ partners with Criptonite on multi-factor fund AMC

06 Jun 2025

Digital assets: 3iQ partners with Criptonite on multi-factor fund AMC

Also: Russia’s Sberbank launches bitcoin-linked structured bond; Cantor Fitzgerald Asset Management to roll out gold-protected Bitcoin fund, and more.

Market
MerQube: demand for thematic exposures has shifted

04 Jun 2025

MerQube: demand for thematic exposures has shifted

The fintech continues to expand its footprint in the structured products market with an increasing presence in Europe. In less than a year MerQube’s indices have more than trebled their AuM in the retail structured products market.

Market
South Korea: KIS, Samsung report higher ELS sales in Q1

03 Jun 2025

South Korea: KIS, Samsung report higher ELS sales in Q1

Korea Investment & Securities, Samsung Securities and Mirae Asset Securities record higher sales of ELS in the first quarter of the year, while Hana Securities’ sales drop. Shinhan’s ELS sales turn tepid.

Data Insights

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Leverage SRP’s data analysis, backed by the world’s structured product database, for an in-depth view of the market’s key trends and dynamics.

Market Reviews

An in-depth view of market activity in some of the world’s most dynamic markets.

Market Reviews
Spotlight on… Central and Eastern Europe (Q1 2025)

30 May 2025

Spotlight on… Central and Eastern Europe (Q1 2025)

Investors in the CEE region increasingly opted for single stock underlyings while FX-rates also remained a popular option in the first quarter of 2025.

Market Reviews
Hong Kong Market Review, April 2025: HSI takes the lead in warrants and CBBC issuances

30 May 2025

Hong Kong Market Review, April 2025: HSI takes the lead in warrants and CBBC issuances

Nvidia continues to dominate the underlying league table for equity-linked investments (ELIs).

Market Reviews
Switzerland Market Review, March 2025: sales up 66% YoY, boosted by FX

30 May 2025

Switzerland Market Review, March 2025: sales up 66% YoY, boosted by FX

Yield enhancement products claimed 92% of the Swiss market in March while FX rate-linked structures increased by more than 10 percentage points YoY.

Market Reviews
UK Market Review, April 2025: sales down, issuers report uptick in EQD revenues

29 May 2025

UK Market Review, April 2025: sales down, issuers report uptick in EQD revenues

Sales of retail structured products in the UK market registered their lowest levels since December 2024, according to SRP data.

Market Reviews
China Market Review, April 2025: gold-linked issuance almost doubles, USD/JPY pair gains traction

29 May 2025

China Market Review, April 2025: gold-linked issuance almost doubles, USD/JPY pair gains traction

China Merchants Bank continues to lead the manufacturers ranking as the largest issuer of retail structured deposits.

Analysis

Explore key market themes backed by SRP’s proprietary analysis.

Analysis
Europe: bearish Phoenix take over as fixed income notes lose steam

6 June 2025

Europe: bearish Phoenix take over as fixed income notes lose steam

Interest rate-linked structured products continue to play a key role in Europe, though with different regional preferences.

Analysis
Rho: a key parameter in interest rate-sensitive environments

28 May 2025

Rho: a key parameter in interest rate-sensitive environments

The previous articles in this Greek textbook series explored Delta, Gamma, Theta and Vega, each representing a different sensitivity in option pricing.

Analysis
France 2024 (part 3): decrement indexes closer to risk thresholds

20 May 2025

France 2024 (part 3): decrement indexes closer to risk thresholds

In the third and final part of the analysis of the French structured product market, SRP sheds light on the knock-in levels used in the market in 2024.

Analysis
France 2024 (part 2): structured products versus ETFs

19 May 2025

France 2024 (part 2): structured products versus ETFs

In the second part of our analysis of the French market, we compare how structured products performed relative to a passive fixed income investment in 2024.

Analysis
Spotlight on France 2024: returns maintain at high levels

16 May 2025

Spotlight on France 2024: returns maintain at high levels

Structured products maturing in the French market returned an average annualised coupon of 8.3% during 2024.

Special Reports

Our special reports provide in-depth analysis and actionable insights on emerging trends and market dynamics. Each report is meticulously researched, offering valuable perspectives that help you stay informed with access to exclusive data and expert commentary.

SRP Index Report 2025: ESG, Thematic & Decrement
SRP Index Report 2025: ESG, Thematic & Decrement

In the second chapter of the latest SRP Index report, we delve into the growing role of thematic and ESG indices within the structured products market. A significant focus of this chapter is the integration of decrement and risk control overlays in ESG and thematic indices. 

SRP Global Market Overview & Europe Market Overview 2024
SRP Global Market Overview & Europe Market Overview 2024

The SRP Global Market Overview & Europe Market Overview 2024 provides an extensive analysis of structured product markets worldwide, highlighting key trends in capital protection, equity-linked products, and regional sales performance.

SRP Index Report 2025: Market Cap & Industry Sectors
SRP Index Report 2025: Market Cap & Industry Sectors

Indexing remains a driver of activity and innovation as well as issuance and sales in the global structured products market.