Avaloq closes the acquisition of Zurich-based Derivative Partners AG, an independent information and data provider for structured products and derivatives in Switzerland.
The acquisition allows Avoloq to utilize different data for structured product and ETF markets on its platform.
The deal was first announced in July earlier this year.
With the new analytical service, Avoloq offers their clients independent valuation and trading and management of financial instruments.
Derivative Partners provides solutions to structured products to more than 40 market participants, including, issuers, private banks, asset managers and exchanges with valuations of option-linked securities and financial products.
The firm also calculates regulatory figures and portfolio management ratios, third-party valuation models and quantitative support for investment banking and trading divisions.
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By GlobalDataAvaloq Group CEO Juerg Hunziker said: “We are delighted to have closed this significant acquisition, and I would like to thank the team at Derivative Partners for their utmost professionalism throughout the process. We are truly delighted to welcome them into the Avaloq Community, with our clients set to benefit from the firm’s extensive consulting capabilities and unparalleled know-how around structured products.
“The acquisition highlights Avaloq’s strong market confidence and underpins our vision of reinventing the financial experience in a fully digitized, always-on and data-driven world through powerful data analytics.”
Derivative Partners will retain their staff and continue to operate as an organizational entity, although detailed financial terms are not to be disclosed.