Structured products
WHAT IS THIS? Structured products are investments that have multiple components. For retail investors, the most common form is a bond plus an option – these tend to be standardised, sold in small tickets and large volumes. Managing the risks of large structured products portfolios is one of the biggest challenges dealers face.
US dividend tax breaches international treaties, say lawyers
Section 871(m) rules “full of holes”, say dealers
FVC review: SG launches FTSE 100 product with defensive strike
Product would have beaten index tracker nearly twofold over past six years
US may target ETFs for collateral add-ons
Credit risk in creation and redemption process singled out by Finra
Sliding HSCEI threatens fresh autocallable losses
Banks nervy as index approaches key options barrier
Dealers fear death of dividend risk premia strategy
Shrinking dividend futures premium hurting investors
Investec bets on defensive products
New head of intermediary distribution sees opportunities in UK pension reforms
FVC retrospective: Meteor autocall pays consistent coupons
Annual growth in FTSE 100 saw product deliver income stream in each year
FVC retrospective: RBS income product delivers on rising US market
Investors get 8% coupon as underlying index maintains year-on-year growth
FVC review: Morgan Stanley launches four-year EM-linked contract
High payout balanced by small buffer offers bullish investors considerable return potential
FVC review: Mariana structured note offers range-bound income
Coupons could surpass risk-free rate but indexes must remain within defined range
Proprietary indexes: private products face public scrutiny
Post-UBS enforcement action, what next for custom indexes?
How ‘worst-of’ strategies can outperform index-linked products
Stock-based structured products can outperform index-linked counterparts but rigorous analysis is key
Small banks face rate options valuation model change
Negative rates causing pricing model rethink
Interview: Dutch regulator on leveraged ETF review
Following clampdown on leveraged ETFs in 2013, Autoriteit Financiële Markten launches second review of sector
Priips risk indicators under fire from industry
Regulators ignored expert recommendations, lobbyists say
Dealers baulk at new SME derivatives rules
Priips to force banks to publish cost analysis of corporate trades
Overcrowding puts low volatility indexes under pressure
Inflows increasing correlations and reducing performance, say traders
UBS case shines light on proprietary index disclosures
US dealers’ custom index operations under heightened scrutiny following SEC enforcement action
Structured Products Europe Awards 2015: The winners
Societe Generale triumphs in a year of two halves
Best in Germany: UBS
Solvency II optimisation strategy delivers capital savings for insurers
Retail structurer of the year: UBS
Dutch broker partnership boosts market share
Industry frets over Priips cost disclosures
Disclosing all costs "makes absolutely no sense", says one dealer
Fed TLAC proposals put structured notes in limbo
Vague rules spark confusion; Morgan Stanley may face headaches
Regulators should beware structured product bubbles
Closer scrutiny as they emerge could help avoid nasty surprises