Despite a challenging year marked by lower fee income and a negative trading result, Leonteq ended 2025 with renewed strength in structured products.
Leonteq’s 2025 results reflect lower net fee income and a negative trading result, which together led to a full‑year loss. Activity levels in the second half improved relative to the seasonal slowdown in the summer months, with fee production rising and structured product turnover reaching CHF13.8bn (US$18.00 billion), a 17% increase year‑on‑year. Margins remained lower, consistent with the decline in market volatility during the period. The economic dynamics of the structured products m