The Bonus Pool

Conference report: Germany

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If in doubt, buy a bonus certificate. While the broader financial markets toy with the waves of volatility and a distinct lack of liquidity, Germany's structured products market drives on relentlessly. And the flavour of the day remains bonus certificates, products that pay out a bonus at maturity if the price of the underlying asset has not dropped to, or below a price threshold during the term.

It does not stop there. This mature market, one of the most sophisticated in Europe with some of the

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