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Cpmarkets signs Deutsche Bank as first IPA

14 November 2000  |  2732 views  |  0 Cpmarkets signs Deutsche Bank as first IPA

Deutsche Bank is to provide an Issuing and Paying Agent (IPA) service to Internet-based commercial paper distribution platform, cpmarket.com.

The agreement with Deutsche Bank's Corporate Trust & Agency Services division is the first signed between Prescient Markets - developer of the cpmarket service - and an IPA.

Once the link is in place, cpmarket will be able to directly link commercial paper issuers to an IPA for direct settlement of transactions. The interface between the two is expected to be ready by the end of the month.

Laurent Paulhac, CEO and founder of Prescient Markets, says: This link will integrate the settlement process in cpmarket.com by communicating trade execution details to the IPA and settlement status back to the issuer."

Deutsche Bank's Corporate Trust & Agency Services is one of the largest paying agents in the United States. In the US Commercial Paper market it processes over 1300 trades a day with average daily volumes of US$24 billion.

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