The latex code below produces multiple product signs:
\documentclass{article}
\usepackage{amssymb,amsmath,graphicx,color}
\newcommand{\invcircledast}{%
\mathbin{\vphantom{\circledast}\text{%
\ooalign{\smash{\blackcircle}\cr
\hidewidth\smash{\textcolor{white}{$*$}}\hidewidth\cr
}%
}}%
}
\newcommand{\blackcircle}{\raisebox{-.4ex}{\scalebox{1.66}{$\bullet$}}}
\makeatletter
\newcommand\bigCircledast{\mathop{\mathpalette\b@gCircledast\relax}}
\newcommand\b@gCircledast[2]{%
\vcenter{\hbox{\m@th
\scalebox{\ifx#1\displaystyle 2.3\else1.2\fi}{$#1\circledast$}%
}}%
}
\newcommand\bigInvcircledast{\mathop{\mathpalette\b@gInvcircledast\relax}}
\newcommand\b@gInvcircledast[2]{%
\vcenter{\hbox{\m@th
\scalebox{\ifx#1\displaystyle 2.3\else1.2\fi}{$#1\invcircledast$}%
}}%
}
\makeatother
\begin{document}
\[
\bigoplus_{i=1}^n % just for comparison
\bigCircledast_{i=1}^n % just for comparison
\bigInvcircledast_{i=1}^n (a_i\invcircledast b_i)
\]
\end{document}

My question now is how to adjust the product signs \bigCircledast and \bigInvcircledast such that the disks have the same size as \bigoplus AND that the sub- and superscripts are on the same line as the sub- or the superscripts of \bigoplus respectively.
Compare also the questions and answers of Opposite product signs in the sense that black and white are interchanged and Filled \Diamond-product sign.
Most of the ideas used in the code above came from egreg. See also the links above.
Essentially I added
\bigCircledplusby just copying the code for\bigCircledastare replacing\circledastby\oplus. – yo' Aug 20 '14 at 08:02