Market making for leverage products

March was a turbulent month for many markets. Market makers faced significant challenges, leading to declines in market-making quality across the board. During this period, BNP Paribas lost two positions in the PMMI (Payoff Market Making Index) for leveraged products, slipping to fifth place.

The Payoff Market Making Index measures the spread (bid ask spread), tradeable volume and quote availability of structured products offered on SIX Swiss Exchange and thus serves as a benchmark for market-making qualities of the individual issuers.
A value above 80 points is considered sufficient, values below 80 points are insufficient.