The past week saw several filings and listings of structured exchange-traded funds (ETFs), including autocallable structures.
GraniteShares and REX Shares are gearing up for the launch of their first autocallable ETFs, making more underlying assets available, their latest filings to the US Securities and Exchange Commission (SEC) show.
J.P. Morgan has identified leveraged ETFs as a driver for aggressive market downturns in a recent research report. The inherent structural mechanics of leveraged ETFs, particularly their daily rebalancing activities, as primary contributors in exacerbating market volatility.
Defiance, a provider of thematic and income focused ETFs, has filed 49 funds with the SEC, including 3x leveraged and inverse leveraged ETFs for Coinbase, MicroStrategy, Robinhood, BitMine Immersion and Circle.
Meanwhile, Volatility Shares is seeking an approval for a range of 5x leveraged ETFs linked to cryptocurrencies and selected equities, including Bitcoin Ether and XRP.
Leverage Shares by Themes has added Figma and Futu to its single stock leveraged ETF lineup, which now hosts 27 offerings.
Direxion has introduced Direxion Titans Leveraged & Inverse ETFs designed to provide targeted exposure to the top five companies within select US industries. The series allows for both bullish and bearish positioning, with 2x long and -2x short exposure available.
Calamos Investments has rolled out its first suite of Laddered Bitcoin Structured Alt Protection ETFs, which comprise CBOL, CBXL, and CBTL, offering 100%, 90%, and 80% downside protection, respectively.
On the US annuity side, a white paper put out by The Index Standard and BlackRock has called out insurance carriers and index providers to provide more education and transparency on target volatility control indices which are gaining in ground in fixed index annuities (FIAs).
In an interview with SRP, Geoffroy Samarcq, head of multi-asset QIS structuring in New York at RBC Capital Markets, said advancements in risk recycling, modelling and technology fuels innovation.
In Brazil, XP Investimentos is set to launch a recovery fund linked to Ambipar whose debt crisis has allegedly led to substantial losses on structured notes. The Recovery AMB FIM IE RL fund will invest in discounted bonds and cater to investors who have a view that the company might recover and allow them to recoup part of their losses from Ambipar-linked structured notes.
For Europe, 14,253 structured products went listed on SIX Swiss Exchange in September, up 26% from August, or a 62% climb year-on-year (YoY). This brings the total listings so far this year to 126,746 – surpassing 110,792 seen for the year of 2024.
An estimated SEK1.45 billion (US$152m) was collected from 115 products in Sweden in Q3 2025. The volume decreased by 28% compared to the previous quarter, or down seven percent YoY, according to Sweden Market Review Q3 2025.
At the same time, an estimated €242 million (US$282.4m) was collected from 84 products that struck on the Finnish market in Q3 2025, Finland Market Review, Q3 2025 shows. They included 38 listed products across Luxembourg, Nasdaq Helsinki, Dublin, Frankfurt and Stuttgart.
In Hong Kong SAR, listed structured products gained traction by turnover in September - consisting of derivative warrants (DWs) and callable bull/bear contracts (CBBCs) – as the volume increased 26% to HK$22.1 billion (US$2.84 billion) from August, translating to a 65% surge YoY, according to the Hong Kong Exchanges and Clearing (HKEX).
Korea Investment & Securities (KIS) has listed 601 equity-linked warrants on the Korea Exchange (KRX). The new suite consists of 280 warrants on Kospi 200 and Kosdaq 150, and 321 warrants on stocks covering Korean companies across several sectors including Samsung Electric and HD Hyundai Heavy Industries.
UBS has hired Bharat Sachanandani, former head of flow strategy and solutions for Asia Pacific at Société Générale, in its equities derivatives institutional sales team for Southeast Asia. He will be responsible for client coverage of equity derivatives solutions and systematic strategies in the new role.
Image: Adobe Stock
Do you have a confidential story, tip, or comment you’d like to share? Write to summer.wang@derivia.com