i-Deal, LLC today announced the launch of i-Deal Equity, its Web-based system for managing global equity new issues. This Internet-based workflow solution for equities allows i-Deal to aggregate all deal-related data and activity on a single platform.
Using i-Deal Equity, broker-dealers can make faster decisions and increase their productivity when managing new issues, including conducting analysis and communicating with other participants.
i-Deal's single platform simplifies the capital markets transaction process, facilitating the management of relationships and information across multiple constituents and offices. By providing seamless integration with front and back office systems, i-Deal Equity also saves users significant amounts of money and time, while increasing efficiencies throughout the life cycle of a deal.
Since i-Deal Equity's initial production release last year, Citigroup and Merrill Lynch have used it to handle an ever-increasing number of transactions, from follow-ons to IPOs, from convertibles to block trades, and closed-end funds. The two firms now use i-Deal Equity for all of their equity and equity-linked transactions, and have executed over 300 deals on the system to date.
"i-Deal Equity allowed us to easily execute a simultaneous Common Stock and Convertible deal in under a day with orders from all Merrill offices worldwide feeding into one global book," said Jay Chandler, Head of U.S. Syndicate at Merrill Lynch. "Within one hour of launching the deal, we also electronically delivered over 1,400 preliminary prospectuses to potential investors through i-Deal Prospectus."
(i-Deal Prospectus is a content-fulfillment system that enables electronic distribution and print-on-demand of documents of all security types. Meeting the full range of regulatory requirements, it has been the leader in the electronic disclosure of new issues since it was introduced in 1997.)
Citigroup uses i-Deal Equity to share deal-related information more efficiently among stakeholders in the new issue execution process. "By using i-Deal, our Capital Markets, Sales, Operations, and Compliance professionals exchange information seamlessly, allowing us to better service our clients and execute deals faster," said Rick Bartlett, Co-Head of U.S. Equity Capital Markets at Citigroup.