ISSUANCE.SWISS
issuance.swiss is a turn-key solution designed to faciliate the creation and launch of financial products across a wide range of assets, powered by the technical expertise and regulatory knowledge of a global administration platform for funds and structured products, Apex Group, ensuring security and compliance throughout the process.
issuance.swiss AG is a Special Purpose Vehicle exclusively dedicated to issuance of segregated note series and certificates backed by investment assets, on a standalone basis, wholly owned by a Swiss Foundation, stakeholder.swiss Stiftung, subject to Swiss federal monitoring authority, for the purpose of ring-fencing noteholders from any external credit risks of Apex Group or another service provider involved in administration of the issuance programme.
The issuance of segregated note series takes place under its Multi-currency Asset Based Security master issuance programme. The programme has been approved by Swiss and European authorities and admitted to issuance of products, which can be listed on Swiss and European exchanges or privately placed products. All products issued under the programme are cleared via central security depositories (SIX, Euroclear & Clearstream), making them simple to trade and can be held in custody by any depository bank in the world.
issuance.swiss AG is a corporation (Aktiengesellschaft) organised under the laws of Switzerland (“the Issuer”) and stakeholder.swiss Stiftung is a Foundation established under the laws of Switzerland, (CHE-168.673.365), subject to Swiss federal monitoring authority (Federal Department of Home Affaires):
Company Name : issuance.swiss AG
Registered Address : Zugerstrasse 76B, 6340 Baar, Switzerland Telephone : +41 44 551 00 52
Company Number : CHE-340.510.964 Unique Identification Number for Businesses (UID) : CH-170-3048232-0 Legal Entity Identifier (LEI) : 5067000950889C27EM46
Investor Information and Product Documenation
This website contains full information on the issuance.swiss AG and the offer of the Products on the basis of the combination of Final Terms and the Base Prospectus, avaiable under relevent sections of this website.
For enquiries regarding the Products, Transaction Documents or Services, please contact issuance.swiss AG, via mail admin@issuance.swiss
The Rise of Exchange Traded Products
Exchange-traded products (ETPs) provide a convenient, regulated, and cost-effective avenue for both retail and institutional investors to engage with various underlying investments, and the realm of digital assets is no exception.
Since the inception of the initial bitcoin tracker in Sweden in 2015, digital asset ETPs have transcended their primarily European presence, evolving into a globally expanding market. The number of these products has surged from a mere 17 at the close of 2020 to approximately 180 available for trading today. With an increasing number of traditional financial institutions joining forces with digital asset-native companies to issue ETPs, it is becoming evident that these instruments play a crucial role not only in broadening investor access to digital assets but also in fostering the wider acceptance and integration of digital assets in global financial markets.
Exchange-traded products (ETPs) represent a class of financial instruments traded on regulated stock exchanges during regular trading hours, mirroring the performance of an underlying benchmark, asset, or portfolio.
This category encompasses three primary types of ETPs: exchange-traded funds (ETFs), exchange-traded notes (ETNs), and exchange-traded commodities (ETCs). While ETFs function as investment funds, ETNs and ETCs take the form of debt securities. ETCs specifically monitor physical commodities like gold and oil, while ETNs cover a broad spectrum of other financial instruments. Since the inception of the inaugural ETF in 1993, marking its thirtieth anniversary this year, ETPs have evolved from mere equity market trackers to arguably one of the most groundbreaking investment product categories, offering investors exposure to a diverse range of innovative underlyings.
Especially in the last two decades, these financial instruments have demonstrated consistent expansion, culminating in a global presence of 11,859 products and 23,931 listings. These offerings originate from 718 providers listed across 81 exchanges in 63 countries. Among them, ETFs constitute the predominant share of assets, representing $10,747 billion or 98% of the overall $10,990 billion in ETP assets (according to data from ETFbook as of the end of November 2023). Oliver Wyman anticipates a heightened growth trajectory for ETFs, forecasting an annual growth rate ranging from 13% to 18% from 2022 to 2027.
“ETP is a key pillar of Apex digital assets strategy for institutionalising blockchain for regulated financial institutions, who are struggling with regulatory, compliance or operational challenges related to direct exposure on balance sheet to digital assets.”
Bruce Jackson, global chief of digital assets at Apex Group and board member of issuance.swiss AG
“A bitcoin ETP would offer convenience and security to investors who do not want to deal with the hassle of managing their own private keys or trusting third-party custodians. It would also enable financial advisers to easily allocate bitcoin to their clients’ portfolios using familiar and trusted platforms.”
Laurent Kssis, independent board member of issuance.swiss AG and crypto ETP veteran
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SIX Exchanges Figures December And Full Year 2024on January 3, 2025
SIX publishes the monthly key figures for SIX Swiss Exchange and BME Exchange about the trading and listing activity in Switzerland and Spain Combined Figures SIX & BME December MoM change YoY change YTD YTD change Turnover* in CHF million 108,804 -16.6% -4.6% 1,582,659 5.6% Turnover* in EUR million 116,257 -17.2% -5.0% 1,691,071 5.1% Transactions* 5,669,678 -15.6% -4.1% 77,942,376 4.3% SMI® 11,600.9 -1.4% 4.2% n.a. 4.2% IBEX35® 11,595 -0.4% 14.8% n.a. 14.8% *includes all respective trading segments for SIX Swiss Exchange and BME Exchange except Financial Derivatives; exchange rate provided by the SIX currency converter, For indices, “YTD Change” refers to the change since beginning of the year, BME Equity trading volume rises 6% in 2024 to 318 billion euros The year ends with 3 new listings on the stock exchange: Puig, Inmocemento and Cox Fixed Income concentrates 22,160 transactions in 2024 Trading in IBEX 35 Options grew 45.7% during the year The Spanish equity market closed the year with a 6% increase in trading volume to 318,005 million euros, after successfully completing the incorporation of three companies into its main market: Puig, Inmocemento and Cox. At December 31, the Spanish stock market had a capitalization of 1.3 billion, up 0.94% on the previous year. The IBEX35® also followed this positive trend, rising by 14.8%. Including dividends distributed, the index's total return reached 20%. At the end of the year, BME announced the launch of SpainAtMid, a new non-pre-transparency order book to make trading Spanish equities more attractive. The BME Growth and BME Scaleup markets added 23 companies in 2024, with a total volume of 573.5 million euros in capital increases. A total of 22,160 transactions were executed in BME's secondary fixed-income markets for an amount of close to 104 billion euros. New issues in the AIAF market channeled more than 360 billion euros of financing to the public and private sector. The MARF market received 14 new issuers and reached the figure of 161 companies that have used this market since its launch in 2013. The total volume issued was 16,583 million euros. Overall, 18 new green, social or sustainable bond issues by Spanish issuers were admitted to all BME's fixed-income markets during 2024. The MEFF Derivatives market continued to improve its range of products and services for its clients and ended the year with an increase of 45.7% in accumulated volume in the year in IBEX 35 Options, while trading in Energy Derivatives increased by 27.9%. BME (turnover in EUR million) December MoM change YoY change YTD YTD change Turnover Equities 23,781 -13.7% 5.6% 318,005 6.0% Turnover Fixed Income 4,724 -44.3% -29.4% 103,908 -43.5% Turnover ETFs 83 24.5% 6.6% 992 -23.6% Turnover Securitized Derivatives 19 -25.2% -19.6% 296 -22.5% Turnover total 28,607 -20.8% -2.4% 423,200 -12.9% Transactions Equities 2,114,064 -17.1% -7.8% 29,865,251 5.0% Transactions Fixed Income 1,060 -29.8% -35.2% 22,160 -30.0% Transactions ETFs 4,932 13.3% 5.6% 62,841 -26.3% Trans, Securitized Derivatives 3,292 -18.0% 10.0% 45,728 -15.4% Transactions total 2,123,348 -17.1% -7.7% 29,995,980 4.8% Nº Product Listed Fixed Income 287 5.5% -1.0% 3,881 -32.4% Capital listed via Fixed Income 35,368.0 31.7% 48.3% 367,404.3 -9.4% Nº Prod, Listed Secur, Derivatives 0 0.0% 0.0% 6,379 -8.6% BME Financial Derivatives Traded contracts December MoM change YoY change YTD YTD change Turnover (Mill Eur) IBEX 35® Future 389 -2.8% 2.8% 4,525 -2.0% 45,490 Mini IBEX 35® Future 44 -18.5% 17.4% 617 0.7% 520 IBEX 35® Options 118 11.1% 26.1% 815 45.7% 1,310 Stock Futures 1,023 -55.9% -6.0% 11,473 1.7% 63 Stock Options 1,358 96.8% -1.3% 10,994 -14.2% 1,508 Power Derivatives (MW) 191 -69.9% -73.9% 6,104 27.9% 14 Index December MoM change YTD change IBEX 35® 11,595 -0.4% 14.8% IBEX® Medium Cap 15,138 2.2% 11.7% IBEX® Small Cap 8,149 2.2% 2.6% IBEX® Growth 15 1,346 -8.0% -25.5% Vibex® 13 -3.5% 8.0% SIX Equities trading turnover full year 2024: CHF 791,851 million (previous year: CHF 802,466 million) with 44,621,354 transactions (43,548,082) Swiss blue chip index SMI® at 11,600.9 points (+4.2% versus the end of 2023) 2 companies completed successful listings: Galderma and Sunrise 6 new product issuers and 1 trading participant joined In the year 2024, two companies chose to issue and list equity securities on SIX Swiss Exchange: Galderma with a market capitalization of CHF 14.5 bn and Sunrise with CHF 3.2 bn. Galderma’s placement volume was around CHF 2.0 billion (excluding over-allotment option) which represents the largest IPO placement in Switzerland since 2017. Equally important is the fact that companies that are already listed made active use of the Swiss capital market and were able to raise around CHF 2.3 billion via equity capital increases in the past year. 2024 was a strong year for raising debt capital with bonds. Around CHF 104 billion (CHF 116 billion in 2023) were raised, exceeding the CHF 100 billion mark for the third time in a row. In total, the bond segment saw 453 new listings (436 in 2023). In the product segments, six new issuers joined SIX Swiss Exchange over the course of the year: the ETF issuer abrdn Investments, the ETP issuers Issuance.Swiss, UBS, HANetf and DWS Xtrackers, as well as the investment fund issuer Helvetia Asset Management. In 2024, the number of ETFs available to investors surpassed the previous year’s record, with 1,885, while structured products reached 60,000 again. For the second time in a row, the number of newly listed structured products in a year passed the 100,000 threshold, reaching the new record of 110,792 (2023: 102,504), while 254 new ETFs were listed (2023: 150). SIX (turnover in CHF million) December MoM change YoY change YTD YTD change Turnover Equities** 58,921 -15.6% 2.0% 791,851 -1.3% Turnover Fixed Income 12,491 -25.7% -45.8% 301,559 75.7% Turnover ETFs 9,890 6.4% 83.9% 84,149 31.0% Turn, Securitized Derivatives 729 -28.5% 23.3% 9,031 12.8% Turnover total 82,031 -15.4% -5.5% 1,186,590 13.4% Transactions Equities** 26,124 -15.2% -24.8% 407,790 -7.8% Transactions Fixed Income 235,363 -4.9% 55.8% 2,471,174 44.1% Transactions ETFs 32,173 -20.2% 11.5% 446,078 14.8% Trans. Secur. Derivatives 3,546,330 -14.6% -1.8% 47,946,396 4.0% Transactions total 26,124 -15.2% -24.8% 407,790 -7.8% Nº Product Listed Fixed Income 14 -65.9% -41.7% 453 3.9% Capital Raised via Fixed Income* 2,564 -58.6% -50.9% 103,822 -10.2% Nº Product Listed Secur. Derivatives 9,143 -7.3% 2.3% 110,792 8.1% * million CHF** incl. Funds + ETPs Index December MoM change YTD change SMI® PR 11,600.9 -1.4% 4.2% SLI Swiss Leader Index® PR 1,917.1 -1.2% 7.9% SMIM® PR 2,618.9 -0.2% 2.1% SPI® TR 15,472.3 -1.3% 6.2% SPI EXTRA® TR 5,151.0 -0.8% 3.8% SXI LIFE SCIENCES® TR 6,963.4 -2.0% 13.7% SXI Bio+Medtech® TR 4,357.5 -2.4% -4.6% SBI® AAA-BBB Total Return 138.5 -0.2% 5.4%
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SIX Exchanges Figures December And Full Year 2024on January 3, 2025
SIX publishes the monthly key figures for SIX Swiss Exchange and BME Exchange about the trading and listing activity in Switzerland and Spain Combined Figures SIX & BME December MoM change YoY change YTD YTD change Turnover* in CHF million 108,804 -16.6% -4.6% 1,582,659 5.6% Turnover* in EUR million 116,257 -17.2% -5.0% 1,691,071 5.1% Transactions* 5,669,678 -15.6% -4.1% 77,942,376 4.3% SMI® 11,600.9 -1.4% 4.2% n.a. 4.2% IBEX35® 11,595 -0.4% 14.8% n.a. 14.8% *includes all respective trading segments for SIX Swiss Exchange and BME Exchange except Financial Derivatives; exchange rate provided by the SIX currency converter, For indices, “YTD Change” refers to the change since beginning of the year, BME Equity trading volume rises 6% in 2024 to 318 billion euros The year ends with 3 new listings on the stock exchange: Puig, Inmocemento and Cox Fixed Income concentrates 22,160 transactions in 2024 Trading in IBEX 35 Options grew 45.7% during the year The Spanish equity market closed the year with a 6% increase in trading volume to 318,005 million euros, after successfully completing the incorporation of three companies into its main market: Puig, Inmocemento and Cox. At December 31, the Spanish stock market had a capitalization of 1.3 billion, up 0.94% on the previous year. The IBEX35® also followed this positive trend, rising by 14.8%. Including dividends distributed, the index's total return reached 20%. At the end of the year, BME announced the launch of SpainAtMid, a new non-pre-transparency order book to make trading Spanish equities more attractive. The BME Growth and BME Scaleup markets added 23 companies in 2024, with a total volume of 573.5 million euros in capital increases. A total of 22,160 transactions were executed in BME's secondary fixed-income markets for an amount of close to 104 billion euros. New issues in the AIAF market channeled more than 360 billion euros of financing to the public and private sector. The MARF market received 14 new issuers and reached the figure of 161 companies that have used this market since its launch in 2013. The total volume issued was 16,583 million euros. Overall, 18 new green, social or sustainable bond issues by Spanish issuers were admitted to all BME's fixed-income markets during 2024. The MEFF Derivatives market continued to improve its range of products and services for its clients and ended the year with an increase of 45.7% in accumulated volume in the year in IBEX 35 Options, while trading in Energy Derivatives increased by 27.9%. BME (turnover in EUR million) December MoM change YoY change YTD YTD change Turnover Equities 23,781 -13.7% 5.6% 318,005 6.0% Turnover Fixed Income 4,724 -44.3% -29.4% 103,908 -43.5% Turnover ETFs 83 24.5% 6.6% 992 -23.6% Turnover Securitized Derivatives 19 -25.2% -19.6% 296 -22.5% Turnover total 28,607 -20.8% -2.4% 423,200 -12.9% Transactions Equities 2,114,064 -17.1% -7.8% 29,865,251 5.0% Transactions Fixed Income 1,060 -29.8% -35.2% 22,160 -30.0% Transactions ETFs 4,932 13.3% 5.6% 62,841 -26.3% Trans, Securitized Derivatives 3,292 -18.0% 10.0% 45,728 -15.4% Transactions total 2,123,348 -17.1% -7.7% 29,995,980 4.8% Nº Product Listed Fixed Income 287 5.5% -1.0% 3,881 -32.4% Capital listed via Fixed Income 35,368.0 31.7% 48.3% 367,404.3 -9.4% Nº Prod, Listed Secur, Derivatives 0 0.0% 0.0% 6,379 -8.6% BME Financial Derivatives Traded contracts December MoM change YoY change YTD YTD change Turnover (Mill Eur) IBEX 35® Future 389 -2.8% 2.8% 4,525 -2.0% 45,490 Mini IBEX 35® Future 44 -18.5% 17.4% 617 0.7% 520 IBEX 35® Options 118 11.1% 26.1% 815 45.7% 1,310 Stock Futures 1,023 -55.9% -6.0% 11,473 1.7% 63 Stock Options 1,358 96.8% -1.3% 10,994 -14.2% 1,508 Power Derivatives (MW) 191 -69.9% -73.9% 6,104 27.9% 14 Index December MoM change YTD change IBEX 35® 11,595 -0.4% 14.8% IBEX® Medium Cap 15,138 2.2% 11.7% IBEX® Small Cap 8,149 2.2% 2.6% IBEX® Growth 15 1,346 -8.0% -25.5% Vibex® 13 -3.5% 8.0% SIX Equities trading turnover full year 2024: CHF 791,851 million (previous year: CHF 802,466 million) with 44,621,354 transactions (43,548,082) Swiss blue chip index SMI® at 11,600.9 points (+4.2% versus the end of 2023) 2 companies completed successful listings: Galderma and Sunrise 6 new product issuers and 1 trading participant joined In the year 2024, two companies chose to issue and list equity securities on SIX Swiss Exchange: Galderma with a market capitalization of CHF 14.5 bn and Sunrise with CHF 3.2 bn. Galderma’s placement volume was around CHF 2.0 billion (excluding over-allotment option) which represents the largest IPO placement in Switzerland since 2017. Equally important is the fact that companies that are already listed made active use of the Swiss capital market and were able to raise around CHF 2.3 billion via equity capital increases in the past year. 2024 was a strong year for raising debt capital with bonds. Around CHF 104 billion (CHF 116 billion in 2023) were raised, exceeding the CHF 100 billion mark for the third time in a row. In total, the bond segment saw 453 new listings (436 in 2023). In the product segments, six new issuers joined SIX Swiss Exchange over the course of the year: the ETF issuer abrdn Investments, the ETP issuers Issuance.Swiss, UBS, HANetf and DWS Xtrackers, as well as the investment fund issuer Helvetia Asset Management. In 2024, the number of ETFs available to investors surpassed the previous year’s record, with 1,885, while structured products reached 60,000 again. For the second time in a row, the number of newly listed structured products in a year passed the 100,000 threshold, reaching the new record of 110,792 (2023: 102,504), while 254 new ETFs were listed (2023: 150). SIX (turnover in CHF million) December MoM change YoY change YTD YTD change Turnover Equities** 58,921 -15.6% 2.0% 791,851 -1.3% Turnover Fixed Income 12,491 -25.7% -45.8% 301,559 75.7% Turnover ETFs 9,890 6.4% 83.9% 84,149 31.0% Turn, Securitized Derivatives 729 -28.5% 23.3% 9,031 12.8% Turnover total 82,031 -15.4% -5.5% 1,186,590 13.4% Transactions Equities** 26,124 -15.2% -24.8% 407,790 -7.8% Transactions Fixed Income 235,363 -4.9% 55.8% 2,471,174 44.1% Transactions ETFs 32,173 -20.2% 11.5% 446,078 14.8% Trans. Secur. Derivatives 3,546,330 -14.6% -1.8% 47,946,396 4.0% Transactions total 26,124 -15.2% -24.8% 407,790 -7.8% Nº Product Listed Fixed Income 14 -65.9% -41.7% 453 3.9% Capital Raised via Fixed Income* 2,564 -58.6% -50.9% 103,822 -10.2% Nº Product Listed Secur. Derivatives 9,143 -7.3% 2.3% 110,792 8.1% * million CHF** incl. Funds + ETPs Index December MoM change YTD change SMI® PR 11,600.9 -1.4% 4.2% SLI Swiss Leader Index® PR 1,917.1 -1.2% 7.9% SMIM® PR 2,618.9 -0.2% 2.1% SPI® TR 15,472.3 -1.3% 6.2% SPI EXTRA® TR 5,151.0 -0.8% 3.8% SXI LIFE SCIENCES® TR 6,963.4 -2.0% 13.7% SXI Bio+Medtech® TR 4,357.5 -2.4% -4.6% SBI® AAA-BBB Total Return 138.5 -0.2% 5.4%