Trading Desk
PMMI June 2025
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Serge Nussbaumer
Kapitalmarktexperte
On May 30, 2025, the market making qualities of issuers were higher than at the end of April for both leveraged 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 products and leverage products are on average 4 points higher.
In leverage products, newcomer Leonteq was able to confirm its strong entry. It shines with almost 100% and a lead of around 1.5 points over Bank Julius Baer. Don’t let the butter be taken off your bread so easily! They are followed by Zürcher Kantonalbank, BNP Paribas and UBS, all of which scored over 90 points.
With investment products, it’s like Punxsutawney Phil: it’s always the same. LUKB will never give up first place again. This performance over such a long period deserves special praise. Thank you for that. Behind them, Banque Cantonale Vaudoise has crept very close again, followed by Raiffeisen, Basler Kantonalbank and Swissquote. With the exception of UBS, which is only just behind, all have scored over 90 points.
Source of all graphics: payoff.ch
