The turnover in investment and leverage products on reporting European financial markets reached €35 billion in Q3 2021.
The is a two percent drop quarter-on-quarter (QoQ) and but a five percent rise year-on-year (YoY), according to the data collected by the European Structured Investment Products Association (Eusipa) and analysed by Avaloq Evolution AG.
For investment products on European trading venues, the turnover amounted to €13 billion in Q3, translating to 37% of total traded volume. This represented a 20% decrease QoQ, or a 40% increase YoY. In the meantime, the turnover in leverage products (warrants, knock-out warrants, and constant leverage certificates) came to €22 billion in Q3 21, forming 63% of total turnover. In addition, the turnover in leverage products climbed 13% QoQ, or fell nine percent YoY.
Click the link to view the full Eusipa Q3 market report.
Vontobel to open new office in Miami, Marex in Sydney and Italy
Vontobel Swiss Wealth Advisors (VSWA), a subsidiary of Vontobel Holdings, will open an office in Miami in the coming months to serve US clients who want to diversify their wealth geographically, a spokesperson told SRP.
‘Within the U.S., there is a migration of wealth from the North to the South,’ said CEO Zeno Staub in an interview with Reuters. ‘More and more local wealth is going to Florida.’
The Swiss wealth manager plans to employ client advisers while booking wealthy individuals' money out of Switzerland in Miami, as it does in its New York office. It’s also expanding its product and fund offerings in the US, according to Staub.
Another player in the market, Marex, has received approval from the Australian regulator to operate and open a new office in Sydney. Nick Burke, head of Apac Sales for Marex Solutions, will lead the team which will at first focus on providing local clients with OTC derivative products to hedge commodity and foreign exchange price risk.
Marex also received the Consob license to operate in Italy.
Aqumon rolls out bespoke quant investment solutions
The Hong Kong-based fintech start-up launched Aqumon Bespoke on 8 December, an app-based investment platform for professional investors. The services feature data-driven investment solutions catering to investors focusing on short-term profits and alpha-seeking alternative strategy that covers more complex investments such as commodities and absolute return strategies including futures, options, derivatives, and unconventional assets.
HKEX’s listed structured product applications hit a high in 2020
The total number of derivative warrants (DWs) and callable bull/bear certificates (CBBCs) listing applications processed by the Hong Kong Exchange and Clearing’s (HKEX) structured products and fixed income department increased by 49% to 50,167 in 2020, compared to 2019, according to a report on the Securities and Futures Commission’s review of the exchange’s performance in its regulation of listing manners covering 2019 and 2020.
The figure represented a record level as the years of 2016, 2017 and 2019 saw 13,771, 21,224, 38,472 applications, respectively. In terms of the number of listing applications, CBBCs have been gaining traction during the past five years. They accounted for 73.5% and 75.8% in 2019 and 2020, respectively.
The report, which was released on 10 December, did not highlight any listing rule on structured products at HKEX.
VegaX Exceeds Growth Targets with over 75x Increase in AUM
New York-based VegaX Holdings, a cryptocurrency index platform providing actionable cryptocurrency indexes and index-based asset management products for traditional investors, has posted a 75x growth in assets under management reaching US$200m as at 13 December compared with end of 2020.
The hike is primarily attributed to the firm’s flagship investment products, the VegaX enhanced bitcoin exposure strategy (VEBE) and the VegaX enhanced ethereum exposure strategy (VEEE), which offer direct access to the cryptocurrency market, according to the asset manager founded in 2019.
Having released five investment products and 12 indices during the past year, VegaX plans to launch new strategies with an aim to address evolving client interest in decentralized finance (DeFi), non-fungible tokens (NFTs) and ‘Web 3.0’, in addition to premium white-glove services for larger clients who are interested in direct access to the crypto market.