An institutional retail derivative trade price comparison venue has launched. DerivativeSupermarket.com is an independent company covering a number of OTC derivative asset classes, including credit default swaps.

The website enables clients to compare prices on a range of vanilla and non-vanilla derivative products, with the aim of saving them time and money as banks compete for their business. The site anonymously relays retail trade requirements to dealers, who review these trade requirements and if it suits the bank's book, they request to contact the client directly.

Clients can supply as much or as little trade information as they like; in most cases product, currency, amount and duration is all that's needed. If they wish, clients can pre-vet or deny certain banks and there is zero commitment to trade and zero fees.

DerivativeSupermarket.com says it does not act as principal; retail clients trade directly with the dealer. Neither does it share client information, unless an internationally recognised bank is willing to price the trade.