TP ICAP Launches Market for Trading Structured Notes in the US

TP ICAP Plc, a brokerage firm for securities dealers, is launching a US trading platform for structured notes, a rapidly growing type of investment that’s swelled to a more than $200 billion a year market.

Branded as Fusion Structured Products, the venue is opening up for trading on Wednesday, after receiving US regulatory approval to become a so-called alternative trading system.

The launch will mark the first US secondary market focused on the securities, which combine elements of derivatives and bonds. The notes typically promise potential upside that’s based on the performance of some other asset, such as a ...