Multi-dealer notes platform sees first trades

摘要

A multi-dealer platform that aims to revolutionise the Asian structured products market saw its first trades completed last week as hundreds of millions of dollars of notes were priced and executed via the industry-backed contineo network. The web-based portal, which represents the collaborative efforts of six investment banks comprising barclays, bnpparibas, goldman sachs, hsbc, jp morgan and societe generale, connects structured note issuers to their private banking clients to provide efficient price discovery on a range of standardised products. Transactions can then be executed on a bilateral basis through the platform. "This started out two years ago when banks found that they had a problem as multiple connections to multiple private banking clients are very costly," said Mark Munoz, CEO of Contineo. "We realised that to make the market more efficient, you need a standard centralised network. What we've created is a utility that everyone can use."