Trading Desk
PMMI August 2025
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Serge Nussbaumer
Kapitalmarktexperte
On July 31, 2025, the market making qualities of issuers were higher than at the end of June for both leverage products and investment products.
The PMMI provides a rough overview of the market making quality of the various issuers in the structured products segment. After a turbulent April, the issuers’ scores have improved significantly. The scores for both investment and leverage products are on average 4 points higher.
The “newcomer” in the leverage products market continues to confirm its leading position. Leonteq is a good 0.6 points ahead of Julius Baer. Critics may complain that the leader only has over 4,000 products on the market. However, a look at the individual products shows that they are ahead in a direct comparison. A little tighter positioning, even when things get hot, is enough.
LUKB is no longer giving up first place, or is it? The top of the rankings has moved very close together, so an exciting fall could be in store. The spreads have narrowed slightly over the weeks and months. 1st place and 6th place are separated by just 0.7 points and all issuers are still above 90 points. Thank you for your efforts.
Source of all graphics: payoff.ch
