Ahead of the Curve: SQX Q3 2025 Review

Three people in a meeting. A man gestures at a laptop, two others watch.

Fall is here, and SQX has been busy. Let’s take a look at what has developed for SQX in the past three months:


Structured Note Reference Data

Recently, SQX has been moving into the reference data space, beginning with our offering of muni reference data, slated to launch in 2026. In Q3, we began laying the groundwork for structured note reference data!


When ready, our structured note reference dataset will capture all essential attributes of a note’s structure, performance profile, and lifecycle. It will include fields describing payoff behavior, underlying asset dependencies, and coupon features—alongside other datapoints that provide a full analytical and operational view of each structured note.


Keep an eye out for more updates! In the meantime, if you’re interested in structured note reference data, or our existing structured note pricing, let us know!


Aerial view of a city with many tall buildings, catching golden sunlight.

Increasing Interest in New Products

Q2 saw the launch of a vast array of new products, and we’ve been pleased to see that interest in them is very high. We’ve particularly delighted that our offering of structured finance—sometimes called structured products by large broker/dealers in the US—has been so well received.


In addition to structured finance (MBS, ABS, CMBS, CMOs, and CLOs & CDOs), the new asset classes we offer include Syndicated Bank Loans, “Green” Bonds, Quoted Swap Curves, Swap-Implied Curves, FX Forward Curves, Credit Default Swap Curves, FX Option Volatility Data, and Swaption Volatility Data. As these securities become a standard part of SQX’s data offerings, we look forward to seeing continued growth for these asset classes.


If you’re interested in receiving structured finance, yield curves, or any of our new data products, just contact SQX!


Four people in an office, discussing documents at a table. Sunlight streams through a large window.

Alternative Investments Process Improvements

In the last quarter, we’ve upgraded our alternative investments process. We've streamlined our system, automating more of our data input processes, and we’ve restructured our research operations to dramatically increase the speed of onboarding new securities. As a result, the data our alternative investments clients receive is even more secure and streamlined than before.


We cover the full universe of alternative investments (including privately-issued securities), delivering issuer-quoted information in a single streamlined file. If you’re interested in learning more, contact SQX.



Want more SQX updates? Follow SQX on LinkedIn and subscribe to our
LinkedIn newsletter to stay ahead of the curve.

Latest News

Modern city skyline with tall glass skyscrapers under a blue sky with clouds

Equity-Linked Notes: A Practitioner's Guide

By Raymond Hanus • July 6, 2026
Equity-linked notes are the core of the US structured note market. Let's look at what ELNs are, three choices that define them, and why single stocks are surging.
Team meeting in a bright office, with coworkers discussing documents around a table.

Worst-Of Baskets: The Dispersion Risk Hiding in Multi-Index Structured Notes

By Raymond Hanus • June 22, 2026
Most multi-index structured notes are worst-of: they pay on the weakest index alone. Adding names adds risk, and dispersion decides how much it costs the holder.
Aerial view of a city at dusk with glowing highways and skyscrapers under low clouds

Phantom Income on Structured Notes: What the Tax Classification Actually Tells You

By Raymond Hanus • June 15, 2026
Most classified structured notes generate phantom income: taxable income owed before any cash is received. The tax classification is what tells you which ones.
Show More