Allen & Overy (A&O) has invested more than £1m in a database product for the derivatives industry that the City giant hopes will further build on its suite of cutting-edge online banking tools.
A&O launched the online digest of tailored legal opinions last month and claims it will act as a “missing link” for derivatives participants. The product, dubbed ‘Diligence’, is designed to allow banks to check derivative trades for legal or regulatory risk, rather than commission advice on relatively straightforward trades.
