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Contineo adds exchange operator as investor and partner

Switzerland’s SIX has joined the consortium, bringing an exchange’s operational skills to structured products sales.

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Contineo, a bank-led technology consortium for trading structured products, told Digfin last May it was in the process of expanding its services to Europe. Since then, the company has got a financial service provider, SIX Group, as their strategic partner and investor, says CEO Mark Munoz.

SIX is a financial service provider that operates the infrastructure of Switzerland's stock exchange. The company’s businesses include processing securities transactions, providing financial information and facilitating cashless payments. Although the partnership is in Europe, Conteneo plans to bring SIX's data services to Asia, where Contineo is more established among investment banks and private banks.

“On the basis of expanding our network, we diversified our shareholder base by adding an exchange,” said Munoz. The partnership was launched on December 2017.

We diversified our shareholder base by adding an exchange

- Mark Munoz, Contineo

Under the partnership, SIX has taken an undisclosed stake in Contineo. Contineo has begun to integrate SIX’s data service, called Connexor, to help its private-bank members better serve their relationship managers and meet escalating regulatory requirements.

Established in 2015, Contineo uses the technology of AG Delta to connect investment banks with private banks, to better distribute structured products to wealthy clients.

Munoz says next step of Contineo is to provide lifecycle management services. This would enable clients to receive notifications regarding the events around a structured product. It is expected to launch this quarter. “But the service will only be available for Asian clients at first,” said Munoz.

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Contineo adds exchange operator as investor and partner