As 2020 came to an end, SRP looks at the listed structured products activity on the Hong Kong Stock Exchange (HKEX) including issuance, average daily turnover (ADT), and most popular underlyings across derivative warrants (DWs), callable bull/bear contracts (CBBCs) and inline warrants (IWs).

The number of listed DWs and CBBCs saw an overall noticeable and steady monthly increase to 7,507 and 4,739 in December 2020, respectively. Meanwhile, trading of IWs gradually fell by 42.6% to 507 products after reaching a record high of 942 in January 2020 since the debut of this product type on the exchange in July 2019, HKEX data shows. The monthly market turnover share of the cash market in 2020 for all listed structured products reached a peak of 17.3% in January, September and October bef