The German market holds strong amid macro headwinds as rate cuts continue, and issuance remains elevated.

The German structured products market maintained its momentum in Q2 2025 following a strong start to the year. Sales volumes remained steady at €4.55 billion (down just 0.4% QoQ), while issuance stayed near record levels with 7,128 products launched—underscoring continued demand for customized investment solutions even as average product size remained compressed. Equities remained overwhelmingly dominant, accounting for over 90% of total structured product sales This flattening of