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Markets across the world were rocked last year by the COVID-19 pandemic. Between February and March of 2020 tumbling equity markets combined with high correlations hit issuers of structured equity products especially hard. In particular, a number of European “Blue Chips” announced freezes or cuts to their dividend payouts as regulators pressured their respective banking sectors into holding

To say 2020 has been a year like no other is an understatement. This year has tested human resolve on a scale many of us have never seen. The coronavirus has directly and indirectly impacted every human on earth. I wish to extend my heartfelt condolences to those who have lost a friend or family member and strength to those who are fighting it. Despite the strong coronavirus headwinds this year

Several global currencies, including USD, are on track for Libor cessation in the not-so-distant future. As a result, we’re now amid a swift regulatory push to promote alternative benchmarks and simultaneously discourage reliance on the Libor benchmark rate. Impacted firms are also working hard to adjust their processes and technology to adapt to this massive change.