Boursorama has led the way in France, facilitating off-exchange trading of retail structured products in collaboration with the cats trading platform.
http://www.boursorama.com/derives/direct-emetteurs/index.phtml
Enhanced transparency is provided by cats-mdh real-time market data, distributed via SIX Telekurs. Middle Office procedures rely on the cats-settlement feed for trade reconciliation and netting.
This initiative was driven by the three issuers BNP Paribas, Citi First and Société Générale.
https://fr.citifirst.com/FR/showpage.aspx?pageID=159
http://www.sgbourse.fr/fileadmin/contenus/brochures/Autres/negocier-en-direct.pdf
Future client enhancements are set to follow in the coming months.