Glancing back, looking forward

Outlook 2008

There were new payoffs in 2007, but not many, reflecting the increasing preference investors have for themes. "Brand new payoffs have been few and far between in 2007 and not particularly inspiring or a hit with clients," says Richard Burns, global head of equity derivative structured products at Citi in London.

Lucia Pelliccioli, head of equity exotics and hybrids product development at JP Morgan says, "While payoff innovation was not prolific in 2007, there were two types of structures that

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