Structured products are flying off the shelves of U.S. brokerage firms, even if many reps and retail investors aren't sure how they work. The term generally refers to a financial instrument whose underlying asset comes with a downside-protection guarantee or a higher-return promise. According to a recent report from Needham, Mass.-based research firm Tower Group, Wall Street brokerages stand to earn $33.2 billion in revenue from derivatives and structured products in 2006.
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