“There is not enough liquidity in the Vstoxx to fully hedge the portfolio of large institutional clients, even if partial hedges are possible, but there is enough liquidity to start looking at private banking products.”
“There is not enough liquidity in the Vstoxx to fully hedge the portfolio of large institutional clients, even if partial hedges are possible, but there is enough liquidity to start looking at private banking products.”
—Eric Bensoussan European head of equities structuring at UBS in London, on how there is now enough liquidity to structure private banking structured products on the Vstoxx.
Tight funding levels and an abundance of investor cash made for brisk MTN issuance in 2025. The story may change in 2026, with public market issuance named as one factor that could crowd out private placements. But a broadening Asian bid for MTNs offers hope for the market, writes Diana Bui