Avaloq, the leading cloud platform and service provider for banks, wealth managers and investment firms, has successfully closed the acquisition of Zurich-based Derivative Partners AG, the number one independent information and data provider for structured products and derivatives in Switzerland.
The deal was first announced in July this year. Derivative Partners will continue to operate as an organizational entity, with all staff retained. Detailed financial terms are not being disclosed.
The acquisition puts Avaloq at the forefront of utilizing differentiating data for structured product and ETF markets on its platform. With Derivative Partners’ powerful analytical services, Avaloq is able to offer both established and new clients the independent valuation, trading and management of highly complex financial instruments at a time when their use by banks and wealth managers is becoming increasingly more relevant.
Derivative Partners provides solutions for structured products to more than 40 market participants including issuers, private banks, asset managers and exchanges with valuations of option-linked securities and complex financial products. Among other capabilities, the firm calculates regulatory figures and portfolio management ratios as well as third-party valuation models and provides quantitative support for investment banking and trading divisions.
Juerg Hunziker, Avaloq’s Group CEO, 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.”