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November 2022
Germany
Q3 2004 to Q3 2022
Values are estimates extrapolated from data representing over 90 percent of the total German derivatives market.
According to the source, certificates :"are derivative securities for private investors and form part of a wider category known as structured products, so called because they are generally made up of several components. Unlike other
derivatives, investment certificates are securitized and are thus often referred to as ‘securitized derivatives ... Certificates are designed solely for private investors, whereas in most cases derivatives such as options, futures and swaps are only traded by institutional investors.









