Contineo, the industry-backed messaging network for equity-linked structured products, on Sunday announced that new subscribers JP Morgan Private Bank, BSI, and two other global private banks are joining the network on the buy-side, and Natixis has joined as a new issuer.
Contineo now has four of Asia’s top ten private banks and six of the top 20 as subscribers, as measured by AUM. Current network participants include Julius Baer, Barclays, BNP Paribas, Goldman Sachs, JP Morgan and Societe Generale.
The platform has been live since June last year and is already seeing a significant flow in RFQs and orders.
Nicolas Reille, Head of Sales, Equity Derivatives, Asia Pacific at Natixis, said that Contineo adds transparency to the structured products market. “Natixis is a strong supporter of more transparency. We believe the higher the transparency, the better for investors, distributors and products providers. In particular, a more transparent market will help to further diversify the range of structured products commonly traded by investors, improving the returns of their structured products portfolios in different market conditions, leading to a growing share of structured products in investors’ portfolios.”
Contineo Managing Director Mark Munoz expressed that in just seven months the firm had made enormous strides. “We went live just seven months ago and have had an enthusiastic response to our offering and now we see usage growing month over month with our new subscribers,” he said. “The business is growing rapidly and we are very pleased with its development alongside all our partners.”
Contineo acts as a communications hub for products including Equity Linked Notes; Knock-Out Equity Linked Notes; Accumulator; Decumulator; Fixed Coupon Notes; DRAN and OTC Options. The network also offers bespoke data products that illuminate for the first time the intricacies of the equity-linked structured product market.