The strategic partnership between Contineo, a leading Hong Kong based trading platform for structured products in Asia, and SIX now moves to the next level.
In its latest version which has been rolled out yesterday, trades concluded on the Contineo platform lead to an automated creation of a CONNEXOR product and transaction economics that are disseminated to the market in real-time and without the risk of mismatches. Further, standardized collection, distribution and maintenance of reference data simplifies workflows and reduces the number of interfaces. With this, banks can start booking and post-trade processes quicker and with better data quality. In addition, specialized third parties can use the data for portfolio analytics or even regulatory document creation (e.g. KID/PRIIP).
André Buck, Global Head Sales & Relationship Management, SIX Swiss Exchange, comments: “With our geographic expansion to Asia, SIX provides financial market participants with innovative services that add real value by fulfilling their needs. Since we first started to introduce CONNEXOR to the Asian-Pacific market, we are now positioned more strongly to address Asian market needs for quality on one hand and more efficient workflows and cost savings on the other.”
Antoine de Charnacé, CEO at Contineo comments: “This major development will allow Contineo to cover even more of the end-to-end process of structured product transactions beyond the original click & trade functionalities. It leverages on the flexibility and scalability of our new state of the art platform to perform post-trade workflows such as straight through processing to client core banking systems and eliminate the risk of misbookings.”
Providing Data of the Highest Quality Standards
CONNEXOR is a unique reference data platform that seamlessly connects data sources such as issuers of financial products with data recipients such as vendors, (Private) banks, specialized third parties, exchanges, banks, CSDs, or even newspapers. CONNEXOR also addresses the need for transparency and regulatory requirements such as MiFID II, IRS 871m, the creation of PRIIPs/KIDs along with Switzerland’s incoming Financial Services Act.
By rationalising the process of data dissemination and paving the way for greater connectivity through enhanced automation and straight through processing (STP) rates, CONNEXOR enables the efficient management of financial products along their full lifecycle – including product events. The collection and maintenance of product data is centralized and standardized, simplifying the overall workflow and reducing the number of interfaces. What used to take days, CONNEXOR handles in a few hours or even less.
Targeting Further International Growth
Moving forward, CONNEXOR is targeting further international growth in terms of markets, users, use-cases and applications as well as financial instruments. SIX is currently in dialogue with more market participants, and CONNEXOR has already started to expand beyond structured products to encompass Fixed Income, Exchange Traded Products (ETPs), Exchange Traded Funds (ETFs) and even Life-Insurance policies.
A Success Story for over a Decade
CONNEXOR has seen tremendous growth since its inception in 2009, with 1,36 million newly issued structured products flowing onto the platform in 2020, CONNEXOR supported the sourcing and distribution of almost 17 million product updates, representing over 50,000 fully automated lifecycle events every day in 2020. Since its inception, the number of issuers has grown to over 40 and with some 25 data consumers brings it to the total of 70 direct CONNEXOR participants.