23.11.2016

Q3 sales slightly below the figure for the previous year – consistently high demand for yield-optimisation products

Statistics on the value added generated by the issuers of structured products in Switzerland has been published quarterly since the beginning of 2016. The products are traded nationally and internationally, and the statistics take account of listed as well as unlisted structured products. This provides a comprehensive overview of the Swiss market.

Important insights (Q3 2016):

  • At around CHF 53.7 billion, in year-on-year terms total quarterly turnover were 2.9% below the figure for Q3 2015.markstatistik
  • There were only minor year-on-year shifts in product groups as a percentage of the total: Once again, yield-optimisation products accounted for the lion’s share at 65%, followed by leverage products (16%). Despite a relative year-on-year decline of 24%, participation products formed the third largest category with a share of 13%.
  • Compared to the previous year, capital protection products recorded relative growth of 262%, whereby sales remained stable relative to Q2 2016.
  • Currencies and equities remain the most frequently used underlying assets. In the case of currencies, the previous year’s figure of 41% has now risen to 46%, meaning that this now represents the largest single investment class. Relative to the previous year, the ratio of equities fell from 48% to 42%. Fixed income increased by more than 127% relative to Q3 2015, boosting its relative share of the total to 6%.
  • Unlisted products accounted for 71%, representing a large majority of Swiss structured products. This corresponds to a 2% rise relative to Q3 2015.
  • Around two-thirds of sales (65%) are generated in the primary market, while transactions are almost exclusively executed on the secondary market (nearly 96%).
  • CHF, EUR and USD serve as the main currencies for Swiss structured products, comprising 86% of sales: Following its strong rise relative to the previous year (30%), the EUR is now the principal currency, accounting for 35%, along with the USD (likewise 35%). In year-on-year terms, the CHF’s share declined from 19% to 16%.

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