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.
Index provider of the year: S&P Dow Jones Indices
Offering expanded product range and better access to Chinese bonds helps S&P take top spot
ETF provider of the year: Deutsche Asset & Wealth Management
Diversification into new underlyings and commitment to client education sees Deutsche AWM win
Deal of the year: Societe Generale
Bank capitalises on relaxation of rules in Formosa bond market
Interest rates house of the year: Societe Generale
Multi-asset capability and broad reach boosted product development and range
Editorial: Innovation the watchword in Asia
Structured Products Asia Awards highlight the region’s immense capacity for innovation
FVC retrospective: Morgan Stanley’s defensive autocall matures early
Kickout triggered after one year, outperforming peer group
Unpicking risk in the Priips framework
Lack of precision leaving little time to finalise technical standards
EU risk ratings for structured products divide issuers
Consultation responses expose fault lines between banks and insurers
FVC retrospective: Dunbar Bank investors get protection at a price
Capital-protected growth product balanced limited downside with underperformance of UK benchmark
FVC review: Credit Suisse offers leveraged return on MSCI EAFE
Leverage offers strong but capped upside with buffer for protection
Contineo plans Asia expansion
Multi-issuer platform to challenge established regional players
Cost pressures spur growth in multi-issuer platforms
Higher costs on low-margin flow products drives shift to new platforms
FVC review: Cube’s growth plan for FTSE and Euro Stoxx
Dual index product offers potential annual income of 5%
Locking in returns using quanto structured products
Hedges required to lock in performance on constant currency terms impact product pricing
Low rates enhance appeal of autocallables beyond core Asia market
Product born in 1990s Japan's low yield environment set for global stage
Mariner Coria: the changing face of arbitrage
Fund manager exploits mispricings linked to structured products and derivatives end-user flows
FVC review: Goldman launches leveraged equity basket note
Product offers exposure to global equity indexes basket with 10% downside protection
Risk.net users back quant risk ratings for structured products
Poll shows support for quantitative indicators in forthcoming EU regulation
Esma rows back on Prospectus Directive proposals
Provisions on documentation eased but industry says more work needed on advertising rules
People: Morgan Stanley and Goldman make equity derivatives hires
UBS bolsters New York equities desk, among other moves in June
FVC review: Investec launches worst-of dual-index note
Product will pay 5.95% annually if FTSE 100 or Euro Stoxx 50 are above 65% barrier on coupon date
Narrow range of index products stifles investor choice
Lack of liquid options on European mid-cap benchmarks leaves investors stuck with the blue chips
Deadlock on structured product risk ratings frustrates issuers
Technical discussion paper on Priips-KID risk indicators leaves firms uncertain about final methodology
Q&A: Belgian watchdog on Mifid, Priips, war on complexity
Belgian markets watchdog defends its curbs on one of world’s structured products capitals