AGDelta and Global Banks Create iTunes Style Offering for Wealth Industry

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AGDelta and six global investment banks announced this week the formation of Contineo, the world’s first industry led broker neutral Multi-issuer Platform for Equity Linked Structured Products.

Retail has Alibaba, travel has hotels.com, and payments has Apple Pay. The Wealth industry now has Contineo.

This initiative targets to swiftly address the significant cost pressures, inefficiencies, lack of open standards and transparency that plague private banks and wealth management firms when sourcing, quoting and transacting wealth investment products since the global financial crisis.

Contineo’s shareholding has been divided among AGDelta and a panel of global investment banks including Barclays, BNP Paribas, Goldman Sachs, HSBC, J.P. Morgan and Societe Generale Corporate & Investment Banking who will form the first batch of liquidity providers to the Platform. Contineo’s newly hired Managing Director, Mark Muñoz will run the operations based in Hong Kong.

The solution offering is powered by AGDelta’s application architecture and user interface with open API's for connectivity to support the possibility to execute Price Discovery & Trade Execution between both buy and sell side firms. Wealth managers and independent asset managers will also have the opportunity to leverage further pre-existing plug-ins to AGDelta's award winning digital wealth investment platform, which is in production with thousands of bankers, across all asset classes, in over 15 markets globally, transacting over a billion dollars notional daily.

Andrew Au, AGDelta's Chief Executive Officer on the launch commented “We are thrilled AGDelta is playing an important role alongside our consortium partners in this ground breaking industry initiative. Our team is honoured to receive this level of industry endorsement for our technology platform expertise and product roadmap. Retail has Alibaba, travel has hotels.com, and payments has Apple Pay. The Wealth industry now has Contineo. Combined with our existing digital channel and multi-product investment platform solutions, this deal highlights the disruptive potential that ecommerce platforms will have in transforming the way financial services will be provided by existing industry players and new emerging entrants alike".

About AGDelta

AGDelta is a leading provider of Digital Wealth Management Systems. AGDelta’s platform has been recognised as the leading Wealth Front Office solution, with recent awards for “Best Multi-Issuer platform” and “Best Wealth Management” front office product suite in 2014. From low touch multi-dealer, multi-product electronic dealing, to high touch client advisor mobility. AGDelta helps some of the fastest growing wealth financial service providers achieve a rare combination of scalable revenue growth, streamlined efficiency, robust compliance controls and enhanced banker-client experiences.

For more information, please visit agdelta.com

For more information about Contineo, please visit http://www.bloomberg.com/news/2015-01-20/wall-street-banks-unite-for-hotels-com-style-derivatives-offer.html and http://finance.yahoo.com/news/contineo-limited-establishes-first-open-000000507.html

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Yuan Zhang
AGDelta
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