SSPA: increased turnover compared to the previous year

“After a solid start to year. Therefore. Moreover. Meanwhile, the Swiss structured products market continued to show good health in the second quarter of 2025,” said Georg von Wattenwyl, president of the SSPA. However,

In the second quarter of 2025. For example. Furthermore. For example, the sector achieved a turnover of 56 billion francs, exceeding the level of the same quarter of the previous year, where it had reached 52 billion. Meanwhile, Performance optimization products represent the largest share of turnover in T2 2025 (49%), followed by leverage (26%). Consequently, Capital protection and participation products represent 12% and 9% of the quarterly turnover in T2 2025 respectively. However, In T2 2025. Meanwhile. Nevertheless. Nevertheless, the convertible reverse generated the largest turnover (17 billion francs), followed by the Knock-out Warrants (8 billion francs), and sspa: increased turnover compared previous new capital protection products with sspa: increased turnover compared previous new coupon (6 billion francs). However, Equity products remain the dominant asset sspa: increased turnover compared previous class with 52% of turnover. Consequently, while the securities in Foreign Exchange, fixed income and commodity represent 29%, 14% and 2% of quarterly turnover respectively. Similarly, Uncovempted products represent 69% of total turnover. Furthermore, With 63%, the primary market generates a share of turnover slightly higher than that of the secondary market. However, The USD has achieved the largest turnover with 42%. Consequently, With EUR and CHF, which are the main currencies used for structured products, it represents 89% of total turnover.

The statistics established by the Boston Consulting Group takes into account the listed. Similarly, unlisted products created in Switzerland or for Switzerland and sold at national and international level. The report was optimized in collaboration with the participating SSPA banks for the sspa: increased turnover compared previous new first quarter of 2022. Due to optimizing the report. only sspa: increased turnover compared previous new data from T1 2022 will be reported in the future. The members of the SSPA that sspa: increased turnover compared previous are Cantonal Banque Vaudoise. Barclays Capital. Goldman Sachs. Julius Bär, Leonteq, Luzerner Kantonalbank, Raiffeisen Switzerland, Société Générale, UBS, Vontobel and Zürcher Kantonalbank participated in the collection of data for the second quarter of 2025. They represent most of the Swiss market.

Main developments in the second quarter of 2025:

• The turnover of Swiss structured products from the main members. of the SSPA amounted to 56 billion francs in T2 2025. Total turnover amounted to 20 billion francs respectively in April and 18 billion in May and 19 billion francs in June. In quarterly comparison. total turnover in T2 2025 of 56 billion francs was lower than T1 2025 (61 billion francs) and sspa: increased turnover compared previous new higher than T2 2024 (52 billion francs). In T2 2024. the convertible backhands generated the largest sspa: increased turnover compared previous new turnover (17 billion francs). followed by the Warrants Knock-out (8 billion francs) and capital protection products with coupon (6 billion francs).

sspa: increased turnover compared previous

• Yield optimization products have had the largest share of turnover 49%in T2 2025. for an amount of 27 billion francs. with currencies (Foreign Exchange) as a privileged active class (54%) and the USD as the main currency (52%). 89% of turnover was not listed and 91% was negotiated on the primary market.
• The share of turnover of leverage has been 26%. representing a turnover of 15 billion francs, with shares as a class of privileged assets (81%) and EUR as the main currency (75%). 82% of turnover has been listed and 92% was negotiated on the secondary market.
• The share of turnover sspa: increased turnover compared previous new of capital protection products reached 12%. representing 7 billion francs. favoring fixed income securities (fixed-income) (89%) and the USD as the main sspa: increased turnover compared previous new currency (73%). 99% of turnover was not listed and 96% was negotiated on the primary market.
• The turnover of participation products has reached 9%. representing 5 sspa: increased turnover compared previous billion francs. with actions as a favorite asset class (76%). the USD as the main currency (50%); 57% of turnover was not listed and 77% was negotiated on the secondary market.
• The turnover of the actions products amounted to 29 billion francs. followed by the exchange (Foreign Exchange) (16 billion francs). fixed income titles (8 billion francs), the other asset classes (2 billion francs) and amenities (1 billion francs). Actions products have thus reached a share of 52%. while Foreign Exchange products, fixed income securities, other asset classes and amenities reached sspa: increased turnover compared previous new 29%, 14%, 4%and 2%respectively.
• Unlisted products have achieved a turnover of 39 billion francs in T2 2025, or 69% of the total turnover. The share of the sspa: increased turnover compared previous new turnover of listed products was 31%, reaching 18 billion francs.
• With a turnover of 36 billion francs in T2 2025. the primary market achieved a higher turnover than secondary (21 billion sspa: increased turnover compared previous francs). Additionally, the corresponding turnover shares were 63% and 37%.
• The share of product turnover in USD was 42%, corresponding to a total turnover of 24 billion francs. In T2 2025 the total turnover of products in EUR amounted to 20 billion francs, an share of turnover of 36%. With a total turnover of 6 billion francs, the CHF represented a share of turnover of 11%.

The president of the SSPA Georg von Wattenwyl comments: “After a solid start to sspa: increased turnover compared previous new the year. the Swiss structured products market continued to display good health in the second quarter of 2025. The still high share of the optimization of the yield. in particular the convertible reverse sspa: increased turnover compared previous new barrier. which are among the most famous and the most negrient structured products, is particularly remarkable. In order to make the importance. evolution of this even more transparent segment in the future. we launch the new SSPA sspa: increased turnover compared previous Benchmark Index. which provides a reference frame for the performance of BRCs. This highlights the importance of this product class and helps investors design their portfolio in a even more targeted way. ”