The year started strong, building on the record momentum seen in 2025.

A total of 3,109 structured notes were issued in Canada in the first quarter of 2026,  up from 2,339 in the prior-year period, SRP data shows . These products are primarily public offerings for retail investors, accounting for the majority of the Canadian market, SRP understands. The issues from January to March came from seven domestic banks led by Canadian Imperial Bank of Commerce (CIBC), which owned close to 33% of the market, an increase from 30% a year ago. Two-thirds of these prod