Swiss multi-dealer structured products trading platform Derivative.com, which is owned by Derivative Partners, has signed Commerzbank, the Royal Bank of Canada (RBC) and JPMorgan to its pool of pricing participants.
"We are very pleased about the additional participants on the issuer side [of the trading platform]," said Derivative.com MD Stephan Engel (pictured). "... on the buy side, already more than 60 users from more than 20 different banks and asset managers are connected on the platform."
With the addition of Commerzbank, RBC and JP Morgan there are now eight issuers quoting pricing on the platform, alongside three Swiss and two foreign issuers including Zürcher Kantonalbank, Bank Sarasin, EFG Financial Products, Société Générale and Morgan Stanley.
Since the beginning of June, users of the trading platform can also request prices for dual currency units (DOCUs) which have recently been introduced to the platform as a new product type. Currently, only currency pairs of the G10 countries are available.
Engel told SRP that further product types like express (auto-callable), discount, bonus and tracker certificates are in the process of being implemented and will be available between the second half of 2012 and the first quarter of 2013.
Engel told SRP that the firm is currently working on plans to expand the multi-provider trading platform beyond its core markets of Switzerland and Liechtenstein.
He added that specific target-countries will be disclosed at a later stage, although he said there are currently plans to expand the platform into "selected countries" in Europe and Asia-Pacific.
Derivative.com is one of the first multi-issuer independent issuance platforms for structured products.
The trading platform was launched in December 2011 and is aimed at banks and asset managers looking for quotes on tailor-made issuance of structured investment products with multiple issuers, starting with an investment sum of CHF50,000 (€41,618).