SPI USA - Market Report – December 2025

Soufiane Ahizoune

soufiane.ahizoune@wsd.com

Updated

RECENT DEVELOPMENTS IN MARKET-LINKED INVESTMENTS

U.S. structured product issuance reached a record USD 226 billion in 2025, representing a +14.1% year-on-year increase versus 2024.

• Q4 2025 was the strongest quarter for the US structured products market, with volumes reaching USD 63.7Bn (+23.0% YoY), driven primarily by exceptionally strong October issuance (+48.4% YoY); momentum remained solid into year-end, with December still delivering +7.1% YoY growth, despite December 2024 being the second-strongest month last year (vs. December 2025 ranking only 6th), underscoring the depth and resilience of demand.

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Expert panelist participating in a discussion at the SP Intelligence Europe Structured Products Conference.

SP Intelligence Europe 2026

May 21, 2026

SP Intelligence Europe brings together over 300 structured product professionals from across the continent. Attend market briefings, interactive workshops, and networking sessions led by industry experts, including live product demonstrations and global market trends.

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September 17, 2026

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SP Intelligence USA 2026

November 4, 2026

SP Intelligence USA gathers top advisors, issuers, and investors for a full-day event focused on U.S. market trends, structured product innovations, and regulatory insights. Learn from Tiago Fernandes and other leading experts through interactive sessions and panel discussions.