Geopolitical tensions, the oil price shock, inflation, monetary policy and AI are setting the pace in the 2026 stock market year. Each of these areas has seen extreme developments in recent months. The megatrend of artificial intelligence has captivated investors and driven share prices sharply higher, particularly in the semiconductor segment. Later, emerging doubts about the sustainability of the boom, and above all its monetisation, triggered corrections. Meanwhile, the military conflict in Iran has plunged the Middle East into turmoil and sent energy prices soaring. As a result, inflationary pressure has increased significantly, overturning monetary policy scenarios, particularly in the United States. The sheer volume of events has brought traders to the fore. This type of investor seeks to profit from sometimes sharp price movements.
Leveraged products are a popular instrument for these predominantly short-term strategies. On the one hand, they enable investors to participate disproportionately in rising prices. The counterpart to this long approach is short products, which allow investors to bet on an asset losing value. A look at SIX Swiss Exchange statistics shows that traders are also gaining ground in Switzerland. For the first eight months of 2026, the exchange reported cumulative trading volume of more than CHF 4.6 billion in leveraged products. This was 84% above the level recorded in the same period of the previous year. At the same time, by the end of August, leveraged products had already exceeded their total trading volume for 2025 by more than 10%. (See chart.)
Leonteq entered this market in April 2025 as the seventh issuer. To support this important expansion, the Zurich-based fintech company developed a state-of-the-art, automated retail-flow platform. It gives customers access to the world of leveraged products and enables investors to rely on fair pricing, high trading volumes and efficient execution. Leonteq launched on SIX Swiss Exchange with around 2,500 leveraged products. Since then, its offering on this trading venue has grown to approximately 20,000 products. In addition, around 3,400 leveraged products are listed on BX Swiss. Both the infrastructure and the product offering have been well received by investors. Measured by the number of executed trades, Leonteq has already achieved a market share of more than 9%. (See chart.)
Leonteq has so far offered three different types of leveraged products: mini-futures, knock-out warrants and traditional warrants. The time has now come to expand and round out this range. Leonteq is introducing Constant Leverage Certificates. As the name suggests, unlike mini-futures and warrants, these products maintain a constant leverage factor. In recent years, this structure has established itself as a fixture in Switzerland's leveraged products market. Leonteq aims to help expand the offering further while ensuring fair and reliable terms. In addition to equities, customers will now have another way to pursue returns through selected Constant Leverage Certificates. Given the wide range of market themes, there should be no shortage of trading opportunities in the future.
2026: January to August; as at 4 September 2026; source: SIX Swiss Exchange
*January to August; as at 4 September 2026. Source: SIX Swiss Exchange