Optimising transparency with comprehensive Swiss market statistics
The SSPA is continuing to improve the transparency of structured products for existing and potential investors. For the first time, the new supplementary market statistics, which will be made available each quarter, contains detailed figures for the entire market, thereby establishing a new standard for the Swiss market. The report reflects current trends & developments, providing a comprehensive picture of the Swiss sector.
For example, the statistics show that in 2015, a turnover of more than CHF 235 billion was generated with structured products created in or for Switzerland. In this conjunction, the proportion of unlisted products was around 70%. Structured products in and from Switzerland are mostly linked to equities and foreign exchange; investments for optimising yields are the most popular.
As the market statistics prepared by Boston Consulting Group for the first time also include non-listed structured products, the figures provide a comprehensive overview of developments in the Swiss market. Barclays, Banque Cantonale Vaudoise, Credit Suisse, Goldman Sachs, Julius Baer, Leonteq, RBC Capital Markets, UBS, Vontobel and Zurich Cantonal Bank as well as one further SSPA member took part in the first survey of supplementary market data. They represent a majority of the Swiss market. The SSPA aims to integrate all Swiss market players in these market statistics.
Important conclusions (Q4 2015):
- With a turnover of around CHF 235.1 billion, the overall market trend in the past year was mostly stable and continuous.
- At more than 63% of sales, yield-optimisation products accounted for the lion’s share, fol-lowed by participation products at more than 16% and leverage products at around 14%.
- Equities and foreign exchange are the most popular underlyings for structured products. In the last quarter of 2015, 47% of structured products were linked to foreign exchange, and 44% to equities.
- The ratio of non-listed to listed products sold was 75% to 25%. The number of transactions with listed products was more than twice the number with OTC products.
- Around two-thirds of the turnover is generated in the primary market, while the transactions are almost exclusively executed on the secondary market. Most of the transactions on the secondary market involve leverage products.
- The most important currencies for Swiss structured products are EUR (36.9%), USD (32.3%) and CHF (17.4%).
Extensive reporting on the new market statistics