Eusipa: European retail structured product volumes fell sharply at end of 2011

The European umbrella structured products trade association has reported that structured product volumes on stock exchanges in Europe fell 26% in the final quarter of 2011

Germany continues to dominate exchange-listed structured products in Europe

The volume of retail structured products listed on the stock exchanges of Austria, France, Germany, Italy, Sweden and Switzerland dropped by 26.6% in the final quarter of 2011 compared to the third quarter, according to structured products umbrella trade association the European Structured Investment Products Association (Eusipa). The relevant trade associations of the six countries are members of Eusipa.

The trading of leverage products in the final quarter of 2011 in the six countries hit €16.2 billion, accounting for 60.9% of the turnover of structured products on the member countries' stock exchanges, according to Eusipa. The exchanges recorded a trading volume of €10.4 billion in investment certificates, a decline of 32.7% on the previous quarter.

At the end of 2011, Eusipa recorded 880,161 investment certificates and leverage products offered on the six relevant stock exchanges, with 510,598 new products listed in the final quarter. Bank issuing activity between October and December 2011 was down by 13.7% against the third quarter. Of these new issues, 79.3% were leverage products and 20.7% investment certificates.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individual country data for final quarter shows that Germany continues to dominate exchange turnover, with €5.607 billion of investment products (€391 million capital-protected and the rest yield enhancement) and €6.197 billion of leveraged products (€3.843 billion of which were knockouts).

Switzerland was next, with a turnover of €3.144 billion in investment products (€418 million capital-protected, €908 million yield enhancement and €1.815 billion participation notes) and €4.650 billion leverage products.

France had a turnover of €791 million in investment products (€50 million yield enhancement, €741 million participation) and €1.474 billion leverage products (€755 million of which were knockouts). Italy's turnover in the quarter was €372 million investment products and €1.919 billion leverage products.

Sweden's turnover was €442 million in investment products and €1.911 billion leverage products (€1.706 billion with knockouts). Austria rang in with a turnover of 66 investment products and €16 million leverage (€4 million with knockouts).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The members of Eusipa are Zertifikate Forum Austria (ZFA), Association Française des Produits Dérivés de Bourse (afpdb), Deutscher Derivate Verband (DDV), Associazione italiana certificati e prodotti di investimento (Acepi), Swedish Exchange Traded Investment Products Association (Setipa) and the Swiss Structured Products Association (SSPA).