Tales of the Tape: The Rise of U.S. Structured Products

December 8, 2025

Structured products are helping power the next wave of derivatives growth. In this episode of Tales of the Tape, Chris Bialka, Vice President, Head of Cboe Global Indices and Fabrice Hugon Managing Director, Global Head of Solutions for Financial Intermediaries at Citi, joined host Spencer Doar to unpack what structured products are, the forms they take and how innovations in indices and the maturing FLexible EXchange (FLEX) options space are increasing access to the products.

What you’ll learn:

  • How structured products deliver defined payoffs and leverage rules‑based indices
  • Why interest‑rate regimes and the hunt for yield accelerated adoption (buffered ETFs, autocallables, principal protection)
  • Dealer hedging mechanics: how structured product issuance and hedging impacts listed options markets
  • What’s next: customization, multi‑asset and crypto‑informed strategies, plus the role of technology in modeling and hedging

Listen to episode five of Tales of the Tape on Spotify, Apple Podcasts and YouTube or watch the video above.

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