Deal of the Year – SPi Europe Awards 2025!

Earlier this week in Milan, Marex Financial Products was recognised at the SPi Europe 2025 Awards with the Deal of the Year. This award was a recognition of Marex’s product innovation and impact in the market.

The winning deal? Our Phoenix Autocallable on iShares® Bitcoin Trust — the first-ever autocallable crypto product listed on Borsa Italiana. This yield enhancement product offered exposure to the ETF replicating Bitcoin, providing a unique way for investors to access digital assets. Combining our experience in the autocallable market with digital assets, the product allowed for the monetisation of Bitcoin’s implied volatility.

The product offered conditional downside protection of up to 40%, along with a compelling 4% quarterly coupon — that’s 16% annually. With a smartly structured decreasing autocall feature, the note was automatically redeemed at the very first observation date.

Beyond the numbers, this deal reflects the careful work of a team focused on delivering well-structured and relevant solutions to clients. It was a thoughtfully designed product, shaped by the expertise of our team.

Over the past three years, the Financial Products team has consistently expanded our offering to the market. From launching our first Credit Linked Note listed on Borsa Italiana and a Crypto Autocallable to earning multiple accolades such as Certificate of the Year at the 2023 and 2024 Italian Certificate Awards, our approach has been to capture our clients’ needs and bring their investment ideas to life, ensuring they can rely on us to deliver the solutions they envision. By the end of 2024, we had cemented our place among the top issuers on the Italian exchange, recording over €1.5 billion in traded volume since March 2022.

This latest award is a recognition of the progress we’ve made. As we continue to grow in Italy, across Europe, and beyond, our focus remains on delivering thoughtful, well-structured products that meet our clients’ needs.