Swiss private bank Vontobel has added French banking group CIC (Crédit Industriel et Commercial) as new distributor for its deritrade Multi Issuer Platform in Asia Pacific.
This major milestone for deritrade MIP indicates the rising demand from distributors globally and in Asia Pacific to benefit from the materially reduced operational costs and enahnced client offering enabled by bringing the structured products industry to the digital banking world.
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CIC marks as the seventh distributor to join the deritrade platform in Asia Pacific this year.
According to Vontobel, deritrade MIP brings a unique ‘front-to-back’ offering to distributors and issuers in Asia Pacific by automating the price discovery of structured products as well as the entire value chain from the point of issuance to distribution and post-trade life cycle management.
The platform will reduce overall costs for distributors will translate into more yield for clients, while automated processes will bring more scalability and quality.
deritrade MIP head Asia Pacific Anup Gupta said: "Winning the support from CIC is a strong endorsement of deritrade® MIP’s track record as the leading front-to-back offering in the market. We are excited by this latest development and have every indication we will soon add more potential distributors to the platform."
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By GlobalDataVontobel Financial Products Asia Pacific CEO Remigio Luongo said: "deritrade® MIP is key to Vontobel Financial Products’ growth strategy in Asia Pacific. We are seeing an increasing need for automation in the structured products space. Our offering goes beyond automation and delivers the service to the point of sale, enabling relationship managers to create a new client experience."
