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European certificates market on the rise, says EUSIPA

The volume of investment certificates and leverage products traded on European stock exchanges in the third quarter of 2012 was EUR24bn, eight per cent higher than in the second quarter of the year, but 36 per cent lower than in the third quarter of 2011.

This is shown in the latest market data collected by the European Structured Investment Products Association (EUSIPA) from its members and analysed by Derivative Partners Research.

Six national associations contribute to the market statistics: Zertifikate Forum Austria (ZFA), Association Française des Produits Dérivés de Bourse (afpdb), Deutscher Derivate Verband (DDV), Associazione Italiana Certificati e Prodotti di Investimento (ACEPI), Swedish Exchange Traded Investment Products Association (SETIPA) and Swiss Structured Products Association (SSPA).

The trading volume of investment products rose 12.1 per cent to EUR11.8bn in the third quarter. Investment products accounted for 49.1 per cent of the total volume.

Trading in leverage products was only slightly livelier in the third quarter than in the previous one; the trading volume was up 4.4 per cent to EUR12.2bn. Leverage products accounted for 50.9 per cent of total turnover.

At the end of September, 436,281 investment certificates and 583,714 leverage products were listed on stock exchanges in EUSIPA member countries. This represents an increase of 4.5 per cent in comparison with the previous quarter. The number of investment products rose by 8.7 per cent in comparison with 2011, while the growth in the number of leverage products offered was even stronger, at 18.7 per cent.

Banks issued 546,705 new products in the period from July to September. The number of new issues was 18.5 per cent higher than in the second quarter. Leverage products accounted for 78.2 per cent of new issues, while investment certificates accounted for 21.8 per cent.

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