The European financial groups, which operate in a number of different jurisdictions, have initiated a new arrangement for manufacturing and distributing structured products.

Switzerland-headquartered Leonteq Securities AG is partnering with Saxo Bank, the Danish financial group, to make and distribute structured products.

Saxo will become a sponsor under a standardised white-labelling issuance model established by Leonteq and will be responsible for distributing Saxo-guaranteed products to its client base. Leonteq has received an international distribution mandate from Saxo.

The first Saxo guaranteed structured products are expected to be available on Leonteq’s platform in the course of 2025, subject to regulatory approvals, Leonteq said in a statement yesterday. 

Leonteq will add Saxo to its network of execution brokers and leverage on their trading capabilities to access capital markets. Leonteq also intends to add Saxo guaranteed structured products on LYNQS, Leonteq’s digital investing platform.

Leonteq Securities AG is the main operating subsidiary of Zurich-listed Leonteq. In July Leonteq said that Lukas Ruflin, one of its founders, and its CEO, had decided to step down once a successor was named.

Leonteq swung back into a net profit of SFr15.7 million ($17.8 million) in the first half of 2024, versus a loss of SFr8.2 million.

Yesterday, Saxo reported a first-half 2024 adjusted net profit of $76 million, rising by 35 per cent from the same period a year earlier.