Insights

Stories, insights and analysis of the major trends shaping structured products markets.

Latest Insights

Read the latest stories, insights and analysis of the major trends shaping structured products markets.

Market
iCapital to acquire Passthrough to simplify investor onboarding
iCapital to acquire Passthrough to simplify investor onboarding

iCapital has agreed to acquire Passthrough to expand its onboarding and compliance solutions for private markets fund managers.

Market
Ibex 35 led trading as warrants dominated in January-BME
Ibex 35 led trading as warrants dominated in January-BME

BME data indicates concentrated turnover in the Ibex 35 and commodities, with issuance trends continuing to favour widely tracked underlyings.

Regulation
Taiwan regulator loosens structured notes targets for securities houses’ overseas entities
Taiwan regulator loosens structured notes targets for securities houses’ overseas entities

The regulatory proposal adds professional investors and entities as additional sales channels for the products issued by securities firms’ overseas subsidiaries.

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Industry Insights

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Stay on top of the latest structured product market developments and trends with all major product, technology, legal and industry insights in one place.

People

See key hires and staffing changes.

People
Citadel Securities taps Morgan Stanley Apac EQD head

10 February 2026

Citadel Securities taps Morgan Stanley Apac EQD head

The equity derivatives veteran is set to join the US market maker to lead structured products front.

People
People: Salt promotes head of structuring and QIS

06 Feb 2026

People: Salt promotes head of structuring and QIS

Also: BNPP taps Nomura EQD sales veteran in Asia; Deutsche Bank Private Bank adds new director to the investment management team to cover North Asia.

People
21Shares appoints Stephen Coltman as head of macro

03 Feb 2026

21Shares appoints Stephen Coltman as head of macro

21Shares has added a senior macro specialist to its investment team as it continues to build out active portfolio management for its crypto exchange-traded product (ETP) business.

People
People: Leonteq veteran steps down as co-head partner shifts to buy side

28 Jan 2026

People: Leonteq veteran steps down as co-head partner shifts to buy side

Also, BCGE bolsters structured products business; Raffles hires new MD for relationship management; France’s Inter Invest hires director of partnerships; and Goldman expands AWM franchise.

People
Cboe beefs up top deck with exec appointments

28 Jan 2026

Cboe beefs up top deck with exec appointments

While Scott Johnston has been appointed as executive vice president and chief operating officer, Heidi Fischer has been made the executive vice president, global head of equities and spot markets.

Products

An in-depth review of the latest product launches.

Products
Dutch manager targets AI upside with capital preservation

11 February 2026

Dutch manager targets AI upside with capital preservation

For its latest public offer, VLK moved away from traditional benchmark indices with the launch of a note linked to a basket of 14 stocks.

Products
Julius Baer bets on AMCs as portfolio building blocks

10 Feb 2026

Julius Baer bets on AMCs as portfolio building blocks

The Swiss bank has turned actively managed certificates (AMCs) into a flexible, cost-efficient bridge between structured products and discretionary strategies.

Products
Raymond James reports US$8.1bn structured products sales in 2025

10 Feb 2026

Raymond James reports US$8.1bn structured products sales in 2025

Annualised sales at the US independent broker-dealer have continued its rally by closing at another record high, facilitated by over 400 new users for the year.

Products
Broadridge enhances global trading services with CQG deal

09 Feb 2026

Broadridge enhances global trading services with CQG deal

CQG’s execution tools are set to join Broadridge’s order management ecosystem in a deal positioned to enhance derivatives trading efficiency across global markets.

Products
Product wrap: Haspa, Goldman SX5E collab, Citi tracks MerQube single stock decrement basket

06 Feb 2026

Product wrap: Haspa, Goldman SX5E collab, Citi tracks MerQube single stock decrement basket

In this week’s wrap, we look at a selection of structured products with strike dates between 1-7 February 2026.

Regulation

Updates and commentary on evolving market regulation.

Regulation
Taiwan regulator loosens structured notes targets for securities houses’ overseas entities

11 February 2026

Taiwan regulator loosens structured notes targets for securities houses’ overseas entities

The regulatory proposal adds professional investors and entities as additional sales channels for the products issued by securities firms’ overseas subsidiaries.

Regulation
SFC launches framework for leveraged crypto trading

15h

SFC launches framework for leveraged crypto trading

The Hong Kong regulator has unveiled new measures to boost liquidity and product diversity in the country’s digital assets market with the aim of deepening trading activity while maintaining strong investor safeguards.

Regulation
Leonteq taps ActiveViam's analytics platform for risk reporting

11 Feb 2026

Leonteq taps ActiveViam's analytics platform for risk reporting

Leonteq has selected ActiveViam’s risk analytics platform to support its regulatory reporting under the Fundamental Review of the Trading Book (FRTB).

Regulation
EBA targets credit risk rulebook overhaul with simplification push

10 Feb 2026

EBA targets credit risk rulebook overhaul with simplification push

New consultation signals potential downstream impact for structured products and capital-intensive issuance as European regulators reassess the complexity of prudential frameworks.

Regulation
HK SFC cites derivatives suitability failures in action against Kylin

09 Feb 2026

HK SFC cites derivatives suitability failures in action against Kylin

The regulator reported that clients were categorised as derivatives-knowledgeable without proper assessment or documented verification.

Technology

Discover technological advances in the industry.

Technology
TP ICAP debuts electronic secondary market for US structured products

11 February 2026

TP ICAP debuts electronic secondary market for US structured products

The British company has rolled out an electronic alternative trading system (ATS) in the US, a first for the structured notes market.

Technology
WTW upgrades RiskAgility models with VM 22 capability

17h

WTW upgrades RiskAgility models with VM 22 capability

WTW has released a new version of its US Library models within RiskAgility Financial Modeler, adding full support for VM-22 requirements for life insurers.

Technology
Allianz brings FIA to Ensight for custom illustration

10 Feb 2026

Allianz brings FIA to Ensight for custom illustration

Allianz's fixed index annuity (FIA) line-up is now available on the Ensight digital platform, allowing users to create interactive presentations for clients.

Technology
AI now embedded across French financial markets: AMF

09 Feb 2026

AI now embedded across French financial markets: AMF

The regulator highlights widespread use of off-the-shelf systems and growing concerns over governance and data protection.

Technology
SBI Holdings, Startale launch blockchain-based trading platform

06 Feb 2026

SBI Holdings, Startale launch blockchain-based trading platform

The platform aims to build Asia’s exchange-layer infrastructure for tokenised securities and onchain real-world assets (RWAs) through 24/7 spot and derivatives trading markets.

Market

Key industry events and change drivers.

Market
iCapital to acquire Passthrough to simplify investor onboarding

12 February 2026

iCapital to acquire Passthrough to simplify investor onboarding

iCapital has agreed to acquire Passthrough to expand its onboarding and compliance solutions for private markets fund managers.

Market
Ibex 35 led trading as warrants dominated in January-BME

1h

Ibex 35 led trading as warrants dominated in January-BME

BME data indicates concentrated turnover in the Ibex 35 and commodities, with issuance trends continuing to favour widely tracked underlyings.

Market
Sygnum, Starboard Digital complete seed phase of BTC Alpha Fund

17h

Sygnum, Starboard Digital complete seed phase of BTC Alpha Fund

Launched in October 2025, the fund has been developed in collaboration with Starboard Digital Strategies, an Athens-based digital asset investment adviser.

Market
CME Group to roll out single stock futures tied to US equities

17h

CME Group to roll out single stock futures tied to US equities

The development comes as demand for equity derivatives has been growing across both institutional and retail audiences in recent years.

Market
Centroid Solutions, Alpaca team up for US equity access

17h

Centroid Solutions, Alpaca team up for US equity access

The integration aims to enhance connectivity for brokers and fintechs seeking seamless access to US equity markets by delivering improved trade execution, deeper liquidity and greater operational efficiency.

Data Insights

View Data Insights )

Leverage SRP’s data analysis, backed by the world’s structured product database, for an in-depth view of the market’s key trends and dynamics.

Market Reviews

An in-depth view of market activity in some of the world’s most dynamic markets.

Market Reviews
Thailand Q4 2025: Kiatnakin Phatra claims top spot as sales surge 40%

11 February 2026

Thailand Q4 2025: Kiatnakin Phatra claims top spot as sales surge 40%

Single stock- and benchmark index-linked notes record rising volumes.

Market Reviews
Czech Republic Q4 2025: Natixis returns as market shifts to riskier products

09 Feb 2026

Czech Republic Q4 2025: Natixis returns as market shifts to riskier products

The French bank made its first appearance on the SRP Czech database in almost nine years.

Market Reviews
US December 2025: single shares gain momentum, Barclays slips out of top five

04 Feb 2026

US December 2025: single shares gain momentum, Barclays slips out of top five

Investors edged further into capital-at-risk products throughout the year with vanilla callable fixed-rate note sales saw a 14% jump.

Market Reviews
Hungary 2025: SG dominates, boosted by FX and ETF index

30 Jan 2026

Hungary 2025: SG dominates, boosted by FX and ETF index

The French bank captured 60% of the Hungarian market, according to SRP data.

Market Reviews
China December 2025: retail structured deposits keep momentum

29 Jan 2026

China December 2025: retail structured deposits keep momentum

The structured deposit issuance maintained the momentum towards the end of 2025

Analysis

Explore key market themes backed by SRP’s proprietary analysis.

Analysis
Markets on edge: the volatility you can’t see

9 February 2026

Markets on edge: the volatility you can’t see

Volatility spikes and record issuance are turning structured products into a central driver of market dynamics.

Analysis
Greeks analysis: deeper sensitivities in FTSE 100 and Nikkei 225 structures

04 Feb 2026

Greeks analysis: deeper sensitivities in FTSE 100 and Nikkei 225 structures

Second-order Greeks come under the spotlight as we look at Theta, Vanna and Charm exposures across FTSE 100 and Nikkei 225 structures.

Analysis
Greeks analysis: FTSE 100 v Nikkei 225

07 Jan 2026

Greeks analysis: FTSE 100 v Nikkei 225

We look at key Greeks metrics across the FTSE 100 and Nikkei 225 to reveal differences in volatility, delta exposure and risk dynamics.

Analysis
Greeks: beyond the unknown future volatility

19 Dec 2025

Greeks: beyond the unknown future volatility

How fat tails, volatility surfaces and exotic payoffs reshape option pricing

Analysis
Europe Q3 2025 (part 2): asset classes and underlyings - equity dominates

12 Dec 2025

Europe Q3 2025 (part 2): asset classes and underlyings - equity dominates

In the second of our three-part review of the European structured products market, we focus on asset classes and underlyings.

Special Reports

Our special reports provide in-depth analysis and actionable insights on emerging trends and market dynamics. Each report is meticulously researched, offering valuable perspectives that help you stay informed with access to exclusive data and expert commentary.

Structured for Volatility: Global Market Sentiment Survey 2025/2026
Structured for Volatility: Global Market Sentiment Survey 2025/2026

197 structured product professionals, 26 countries, 14 expert interviews.
This first-of-its-kind global survey, in partnership with LPA, combines qualitative and quantitative data to provide a benchmark outlook for 2025 and beyond.

SRP Index Report 2025: Custom & Strategy Indices
SRP Index Report 2025: Custom & Strategy Indices

In the third chapter of the SRP 2025 Index report, we look at the landscape involving custom and proprietary indices between 2022-2024

France Structured Products Performance Overview 2024
France Structured Products Performance Overview 2024

The SRP France Structured Products Performance Overview 2024 analyses the performance of structured investment solutions in the French market during 2024.