Vontobel Financial Products has added four regional and international structured products distributors, LGT, Maybank, KGI Securities and Union Bancaire Privée to its deritrade Multi Issuer Platform (MIP) in Asia Pacific.
This major milestone for deritrade demonstrates the increasing demand from distributors globally and in Asia Pacific to benefit from the materially reduced operational costs and improved client offering enabled by bringing the structured products industry to the digital banking world.
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Deritrade MIP brings a unique ‘front-to-back’ offering to distributors and issuers in APAC by automating not only the price discovery of structured products, but the entire value chain from the point of issuance to distribution and post-trade life cycle management.
Reduced overall costs for distributors will translate into more yields for clients, while automated processes will bring more scalability and quality, thus a much enhanced client experience.
Anup Gupta, head of deritrade MIP in APAC, commented: "The structured products market in APAC is in the midst of a fundamental change to reduce costs. Winning the support from four distributors is a strong endorsement of deritrade® MIP’s track record as the leading front-to-back offering in the market."
Thomas Süssli, CEO of Vontobel Financial Products in Asia Pacific, added, "deritrade MIP is key to Vontobel Financial Products’ growth strategy in APAC. The early success of the platform in the region shows that it addresses a significant need present in the market for automation. It will cause a paradigm shift from product to advisory centricity."
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By GlobalDataThis milestone follows the success of its deritrade MIP in Europe, where it has established itself as a new market standard, featuring the six prominent issuers UBS, Vontobel, Morgan Stanley, Deutsche Bank, Société Générale and Zürcher Kantonalbank, representing more than 70% of the sizable exchange traded SP volume in Switzerland.
Its distribution franchise is growing rapidly, bringing its product offering directly to Relationship Managers at Private Banks and independent Asset Managers via its purpose build User Interface.
