The European structured products association has reported €289 billion open interest across reporting markets with turnover slightly falling.
Turnover in investment and leverage products on reporting European financial markets was down one percent quarter on quarter and 10% year on year in the third quarter of 2022, bringing the total to €31 billion, according to the European Structured Investment Products Association (Eusipa).
According to the association chaired by Thomas Wulf (pictured), third-quarter turnover in investment products on European trading venues amounted to €8 billion, 25% of total traded volume. Investment product turnover decreased by 16% quarter on quarter and by 39% year on year.
Turnover in leverage products including warrants, knock-out warrants, and constant leverage certificates reached €23 billion in the period from July to September, representing 75% of total turnover. Turnover in leverage products increased by six percent year on year and by four percent from Q2 2022.
At the end of September, trading venues located in reporting Eusipa markets were offering 414,250 investment products and 1,641,658 leverage products which pushed the number of listed products up by three percent on a quarterly basis and by 14% year on year.
Banks issued 1,695,647 new investment and leverage products in the third quarter of 2022, down one percent on the previous quarter and up 35 % annually.
In total, 130,895 new investment products were launched, accounting for eight percent of new issues; the 1,564,752 new leverage products represent 92% of the total. There were 10% more investment products launched than in the same quarter of 2021. On the leverage products side, issuance increased by 37% on an annual basis.
For Austria, Belgium, Germany and Switzerland, the market volume of investment and leverage products issued as securities decreased by three percent year on year and by six percent from the previous quarter to a total of €289 billion.
At the end of September, the market volume of investment products stood at €280 billion – down six percent quarter on quarter and three percent year on year.
The outstanding volume of leverage products totalled €9 billion at the end of September which represents a 13% decrease on a year-on-year basis.
The members of EUSIPA who provide the figures for the market report include Zertifikate Forum Austria (ZFA), the Belgian Structured Investment Products Association (BELSIPA), Association Française des Produits Dérivés de Bourse (AFPDB), Deutscher Derivate Verband (DDV), Associazione Italiana Certificati e Prodotti di Investimento (ACEPI), the Netherlands Structured Investment Products Association (NEDSIPA), the Swedish Exchange Traded Investment Products Association (SETIPA), the Swiss Structured Products Association (SSPA), and the Luxembourg Structured Investment Products Association (LUXSIPA).