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Structured products volume declines over week; Goldman is top bookrunner with 32.2% share
By Sheri Kasprzak
New York, Oct. 7 – Structured products supply was significantly down for the week of Sept. 27, according to Prospect News data. Volume slid 52.79% over the week.
There were 106 deals totaling $740 million for the week, down from 262 deals totaling $1,567,000,000 for the previous week.
Excluding exchange-traded notes, volume slipped 58.9% with $557 million offered in 84 deals compared to $1,356,000,000 in 244 deals the week before.
Equities were the top underlier for the week, making up 87.38% of the offerings in 74 deals for a total of $487 million.
Synthetic indices made up 85.06% of the week’s deals in 57 offerings totaling $474 million.
Synthetic exchange-traded funds rounded out the top three with just 7.67% in five deals totaling $43 million.
Goldman tops bookrunners
Among the bookrunners for the week’s deals, Goldman Sachs & Co. took the number-one spot with 24 offerings totaling $179 million, making up 32.2% of the week’s supply. The bookrunner’s standing jumped 184.7% week over week.
JPMorgan Chase & Co. was the number-two bookrunner, taking 15.06% of the week’s share in eight deals totaling $84 million, down 18.5% for the week.
Credit Suisse rounded out the top three with 11.29% of the week’s deals totaling $63 million in three deals, up 63.7% for the week.
Year-to-date totals up 18.7%
Year-to-date, structured products volume has increased 18.7% to 7,394 deals totaling $48.83 billion between Jan. 1 and Oct. 2.
Between Jan. 1, 2014 and Oct. 1, 2014, there were 7,040 deals totaling $32.60 billion.
Excluding ETNs, there were 6,572 deals totaling $34.34 billion between Jan. 1 and Oct. 2, up 5.33% from the same period of 2014. There were 7,040 deals excluding ETNs between Jan. 1, 2014 and Oct. 2, 2014.
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