Bonus certificates lose their shine

Bonus certificates lose their shine


The volatility of August and September had a profound effect on Germany's structured products market, primarily seeing bonus certificates lose some of their allure. With structured products issuance volumes recovering from the peak years of 2007 and 2008, the product choice often varied between bonus or discount certificates and reverse convertibles.

According to the Deutscher Derivate Verband (DDV), Germany's structured products association, the volume of certificates sold in Germany fell by 3

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