SRP reviewed the most used underlyings in H1 2025, both in Europe and in the Swiss market.

Some 195,197 structured products (excluding flow) worth an estimated US$166 billion were issued across 21 different European markets in the first half of 2025 – an increase both by issuance and sales volume compared to the same period of 2024 when an estimated US$142.8 billion was gathered from 175,520 products (excluding flow). Almost 90% of the total issuance ( 172,098 products ) in H1 25 was sold in the Swiss market – we break the sample for Europe (excluding Switzerland) and one