Derivatives boutique Leonteq has joined forces with Rand Merchant Bank to develop and distribute structured investment products.

Rand Merchant Bank is the corporate and investment banking arm of South Africa’s FirstRand Bank.

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Under the agreement, Rand Merchant Bank will tap Leonteq’s platform for white-labelled issuers as well as create and distribute structured products utilising the know-how of Leonteq.

Leonteq will facilitate structuring, product documentation, hedging of derivative components, market-making, lifecycle management as well as processing as part of the partnership.

Rand Merchant Bank head of Structuring Hendrik Fourie said: “Our collaboration with Leonteq will enable us to expand our financial services offering, thus enhancing our value proposition for clients. With its automated platform and extensive distribution capabilities in Europe and Asia, Leonteq is our partner of choice.”

The first structured investment products resulting from the tie-up are scheduled to be issued at the end of this year.

Leonteq CEO Lukas Ruflin said: “This cooperation will give our clients unique exposure to structured investment products issued in this region, and we look forward to providing our new partner with our solutions and expertise.”

Meanwhile, Leonteq withdrew its 2020 financial outlook recently due to the uncertainties related to the economic impact of the Covid-19 crisis.

The firm, however, stressed that it has solid capital and liquidity position.