Structured products
WHAT IS THIS? Structured products are investments that have multiple components. For retail investors, the most common form is a bond plus an option – these tend to be standardised, sold in small tickets and large volumes. Managing the risks of large structured products portfolios is one of the biggest challenges dealers face.
French yield surge sparks scramble to salvage range accruals
Dealers look to shift barriers and reference indexes after Tec10 notes breach upper barriers
Calamos combines rival structures with new autocall ETF
Generic local vol model allows exotic payoff to be packaged in index without vol target
Issuers wrap prediction market bets for European clients
Structured notes from Marex and Otala offer prediction market exposure to European firms shut out of the raw contracts
Garage upstart turns Polymarket bets into benchmarks
Belief Systems launches 13 prediction indexes, but faces adoption hurdles
Autocall ETFs set to triple, with products tied to gold and rockets
New market’s rapid expansion includes both defensive and high-octane offerings
EBA’s repack answers leave dealers guessing
Spire dealers are split – some see worst-case scenario, others assume gentler treatment
HK listing revisions may boost structured product diversity
Reduced minimum fees and size could temper ‘emulation’ issue dominance
UBS fixed income structuring head departs
Credit Suisse alumni Adrian Bracher leaves Swiss bank
JP Morgan’s race to simplify FX options trading
Fewer clicks, more automation win systematic clients and boost electronic volumes
Leveraged ETFs may have fuelled Kospi plunge
Record one-day drop in Korean equity markets follows months-long surge driven by leveraged bets
US banks lose appetite for Treasuries as G-Sibs turn to trading book
Two-year surge in non-trading USTs plateaus as HFT bonds tick up
BBVA joins growing Spire repack platform
Spanish bank becomes 19th dealer on multi-bank SPV issuer amid rising investor interest
ECB seeks capital clarity on Spire repacks
Dealers split between counterparty credit risk and market risk frameworks for repack RWAs
Calamos brings popular US autocall ETF to Europe
Dublin filing points to Q1 launch for Calamos Autocallable Income Ucits ETF
Asset managers prep autocall ETFs with assets tipped to hit $30bn
Actively managed strategies wait in the wings after systematic approach nets Calamos $500m
Hong Kong derivatives regime could drive more offshore booking
Industry warns new capital requirements for securities firms are higher than other jurisdictions
Hong Kong tech stocks flirt with peak vega on structured boom
Note issuers sell vol to flatten exposures as Alibaba, BYD, Tencent zig-zag lower
Playing the yield: rates rev up structured products
Higher government bond yields and steeper forward curves fuel demand for new range of fixed income structures
Growth in China snowball lookalikes sparks questions
New products include tweaks to sidestep restrictions, but some believe they don’t go far enough
Pricing and analytics: cross-asset and structured – Murex
Murex wins Pricing and analytics: cross-asset and structured at the Markets Technology Awards 2026 thanks to its MX.3 platform
Korean autocalls to make comeback, with ‘smaller pie’ for banks
As equity-linked autocallable channels look set to reopen, new rules could limit market’s revival