The French structured products market was not impacted negatively by the sanitary crisis triggered by the Covid-19 pandemic as suggested by a 73% increase in issuance during the February-April 2020 period compared to the same period last year. ESG demand remained strong with new payoffs deployed to capitalise on the market environment.

The number of new products launched in the French retail market increased two-fold in the midst of the mid-March market crash. The boom was largely due to the spike in volatility which provided new investment opportunities resulting from the pricing dislocation. From mid-March, in the face of renewed volatility, structured products benefited from solid investment inflows, despite a slight adjustment on the average volume issued. This shows that the supply side remained very active though the a

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