SG, the corporate and investment banking arm of the Societe Generale group, will issue commercial paper through cpmarket.com. The Web site is owned by Prescient Securities, which set up the first Web site for commercial paper trading and provides Internet technology to support short-term funding markets.
The cpmarket.com Web site was launched in June 2000 and facilitates real-time transactions between issuers and investors via an Internet portal.
Paolo Taddonio, co-head of foreign exchange and treasury, SG, says: "We see the value in electronic distribution and how it will ultimately lower our distribution and funding costs."