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SSPA Update – New Board members, new association members, third edition of the structured products book


Editorial by SSPA president Markus Pfister
 

Dear colleagues and followers of the structured products industry,
 
The world looks back on tough times – the global economy has faced massive challenges due to the Covid-19 crisis. I am delighted to say that the industry of structured products has mastered the pandemic well and we continue to observe a strong demand for structured products: With frequent market changes, investors are taking advantage of the flexibility of structured products. Yield enhancement products have been especially popular and still account for around half of the industry’s total turnover. Thankfully, the ongoing vaccination will pave the way back to a new normal. The activities of the SSPA will come to the usual level in the next few months as personal interaction will be possible again. We all look forward to the personal exchange of thoughts and ideas at the Lucerne Forum. Finally, we will be able to personally welcome our two newest members, Santander and Luma Financial Technologies. Their comprehensive expertise and know-how will certainly bring new impulses to the table. Additionally, our two new Board members will introduce themselves in person. In the meanwhile, Willi Bucher and Michael Vonmoos say a few words about themselves in the videos below.

I hope to see you all soon.

Markus Pfister, SSPA Chairman
 

Introduction of new SSPA board members
Willi Bucher and Michael Vonmoos





 

The SSPA is proud to announce its two newest members: Banco Santander and Luma Financial Technologies. Santander joined the SSPA in March and brings extensive international expertise to the association. The universal bank is present in 10 core markets in Europe and the Americas, serving 148 million customers worldwide. With its membership in the association, Santander is seeking to strengthen its position across the entire value creation chain and to actively participate in the world’s largest market for structured products. In addition, the bank hopes to expand its offering of structured products in Switzerland. Santander’s spokesperson in the SSPA is Alfredo Madrigal, Head of Equity Derivatives & ETD

Luma Financial Technologies only joined two weeks later. The U.S. company offers a customizable, multi-product, multi-issuer and carrier-neutral platform rationalising the process for using and creating structured products. Luma Financial Technologies most recently opened an office in Zurich. The membership in the SSPA is a further step in the full establishment of Luma Financial Technologies in Switzerland. Its spokesperson in the association, David Wood, is Managing Director and hopes to help support the Swiss industry of structured products with the platform Luma and their international expertise. 


The third edition of the structurecd products book


The SSPA is delighted to announce the release of the third edition of the structured products book. In its newest edition, the book was subject to an extensive content refresher. The topics have been updated to provide all readers the latest insights into the World of Structured Products. The book is currently available in English and German; the French edition will follow shortly. Are you curious already? Order the third edition of the structured products book here:




 



 

The SSPA is delighted to announce the International Structured Products Forum in Lucerne on 7 and 8 September 2021, which will again be organised in close cooperation with SIX. After the cancellation of the forum 2020 due to the COVID-19 pandemic, the association looks forward to finally welcoming you in the Grand Hotel National. In line with the omnipresent shift into the virtual world during the last year, the central topic of the 2021 Lucerne forum will be innovation and digitalisation in the structured products business. This years’ key note speaker Zeno Staub, CEO at Vontobel, who will talk about innovation, client centricity and digitalisation, while key note speaker Jens Korte, finance and economics expert, will share a speech about global financial markets: “US under the new presidency of Joe Biden”. In the panel discussion “Pension funds and SP – dream team or just a dream”, experts from pension funds, the academic world and the structured products industry will shed light on the interaction of pension funds and structured products. Furthermore, representatives of platforms will talk in-depth about current offerings and upcoming innovations of platform providers. The official invitation and agenda will be shared soon. 
Daniel Haeberli – Zürich und Umgebung, Schweiz | Berufsprofil | LinkedIn
 
Daniel Haeberli, Director Legal & Regulation of the SSPA:
 
“We are delighted to present the Swiss KID template for BRCs to our members. The Swiss Kid is a standardized investor friendly document ensuring an efficient implementation of the regulatory requirements.”
 
The template for a Key Information Document for BRCs is available in the member section of the SSPA website. The Swiss KID provides the investor with key information about BRCs. It should help the investor understand the nature, risks and costs of this product and compare it with other products. A Swiss KID must be prepared by manufacturers when structured products are offered to Swiss private clients and no PRIIPs KID is available.

Value Creation Report Q1 2021
 

The Value Creation Report of the first quarter 2021 presented a 20% lower turnover than in the record quarter in the prior year. However, turnover increased by CHF 15 billion over the fourth quarter of 2020 and is with a total of CHF 94 billion still on a high level. The statistics drawn up by Boston Consulting Group demonstrate that yield enhancement products are leading, followed by leverage products growing in their turnover share. The dominating assed classes are equity and foreign exchange. The SSPA members Barclays Capital, Banque Cantonale Vaudoise, Commerzbank, Credit Suisse, Goldman Sachs, Julius Baer, Leonteq, Raiffeisen Switzerland, UBS, Vontobel as well as Zürcher Kantonalbank took part in the survey.
 
As every year, the annual structured products supplement of Finanz und Wirtschaft was published in January. Many thanks to all contributors for the interesting insights and analysis of the trends and challenges in the industry. In case you have missed this essential reading, you will find the link to the supplement above.

Shortly afterwards, the annual SSPA roundtable was hosted by our president Markus Pfister and Board member Thomas Wicki, who presented the results of the Value Creation Report 2020. Their explanations captured the interest of journalists and hopefully also their readers. We look forward to the next SSPA media event!
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