Trading Desk
PMMI March 2026
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Susan Niederhöfer
Chefredakteurin
On February 27, 2026, the market making quality of issuers was slightly higher for leverage products and slightly lower for investment products than at the end of January.
The PMMI provides a rough overview of the market making quality of the various issuers in the area of structured products. In December, SIX extended its trading hours for structured products: trading now runs from 8:00 to 21:45. Issuers are free to decide whether they wish to participate in the extended hours with their products. In the following PMMI, however, we are only considering the traditional trading hours of 9:15 am to 5:30 pm for the time being.
The neck-and-neck race between Leonteq and Bank Julius Baer in leverage products has intensified further – with Leonteq as the winner and a lead of just under 0.02 points. As investors, we are pleased with the very tight spreads, constantly available volume and ongoing price positioning.
Luzerner Kantonalbank remains at the top for investment products with over 99 points – practically consistently. A great performance over several years. In recent months, however, a chasing pack has formed that wants to change this. We are excited.
Source of all graphics: payoff.ch
