Some 729 structured products worth an estimated €100m were added to the SRP database in April. Of these, 724 were turbo certificates listed at Euronext Lisbon.
BNP Paribas will act as the market maker for the new products launched by Leverage Shares - a UK-based sponsor of physically backed exchange-traded products (ETPs).
The extreme Covid-19 related volatility on the financial markets at the beginning of this year saw record numbers of turbos issued in the Netherlands during the weeks leading to the mid-march market crash and immediately after.
In the latest article on our series covering new underlyings in the institutional space, GenTwo provides another example of how its securitization platform is helping to bring non-bankable assets and new thematic underlyings to investors via structured products.
Some 29 structured products with combined estimated sales of €233m had strike dates during April.
The Belgian bank capitalised on market volatility triggered by the Covd-19 pandemic and the temporarily higher funding of issuer Goldman Sachs.
The new structured fund will focus on managing risk as opposed to the usual autocall strategies seen in other fund-based structures.
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.
Sales of structured products during the period surrounding the market crash of mid-March were down 26% compared to the same period of 2019. We look at issuance and sales volumes across markets in the immediate aftermath to assess the impact of the recent market turbulence.