Credit Suisse CEO Says Volatility Products 'Form a Useful Purpose'

The transcript discusses an ETN designed for sophisticated investors to manage daily trading risks. It emphasizes that the ETN is not suitable for long-term investment due to its potential to lose significant value quickly. The ETN's structural issues led to its closure, as it could not recover value after a market shift. The decision to close the ETN was made to protect investors, and similar products exist to help manage market risks.

What rationale was provided for closing the product?

How do market participants benefit from products like the one discussed?