Two industry associations launch in the UK

Two structured product trade associations have launched in the UK only days apart from one another.

The UK Structured Products Association (UK SPA) officially came into being on November 19 after weeks of speculation about which institutions would join, and months of behind-the-scenes negotiations. Eight providers have signed up: Royal Bank of Scotland, Citi, Santander, Credit Suisse, Morgan Stanley, Skandia, Legal & General and Prudential.

They are joined by a four-strong advisory committee of

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