Bonus certificates lose their shine
Volatility revisited equity markets in August and September, which meant Germany’s much-loved bonus certificates hit barriers, creating much inconvenience to retail investors. Bonuses have been adapted to cope but are less popular than discount certificates, while reverse convertibles have retained their attraction. Richard Jory reports from Frankfurt
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
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