20 July 2018
Visit www.avoka.com

Ipreo brings end-to-end electronic processing to fixed income market

09 January 2017  |  2644 views  |  0 Source: Ipreo

Ipreo, a leading global provider of market intelligence and productivity solutions to financial services and corporate professionals, announced the successful implementation of Investor Access, which allows investors to electronically submit orders directly to the sell-side syndicate banks on fixed-income new issues.

A 5-year GBP-denominated covered bond transaction was executed for a Commonwealth Bank of Australia deal last Thursday, which marks the first time both sell-side and buy-side participants have conducted the deal process electronically - including order entry and allocation - on a live primary issue.

An industry-led initiative, Investor Access allows the investors to be alerted to new-issue announcements, receive structured information on deal terms and conditions, submit and manage orders, and receive electronic notification of allocation and pricing details, along with other deal-related information such as the prospectus and final terms.

Thursday’s Commonwealth Bank of Australia deal represents the culmination of a two-year development process that began with sell-side sponsorship of the idea to improve efficiency in the primary issue process. The initiative evolved to include a robust investor community and succeeded through the collaboration of all participants to make that idea a reality. Investor Access is now available to all banks in the EMEA region, and work is already well underway to launch Investor Access in Asia, where Ipreo is working with banks and a number of leading buy-side firms in the region to prepare for go-live in 2017.

“This is a very important milestone in the market evolution towards greater efficiency and reduced risk in the deal and order communications process,” said Bill Sherman, EVP, Global Markets Group at Ipreo. “The solution has immediate tangible benefits to the investors, syndicate banks, and issuers. We’re delighted to have been able to facilitate this process and help make these improvements possible.”

Thursday’s milestone Commonwealth Bank of Australia deal was led by CBA, HSBC & Nomura.

“The use of Investor Access on this initial deal was an exciting step forward in improving how business is done in the primary markets, and we are very pleased to have been part of it," said Chris Jones, MD, Debt Syndicate, London at HSBC.
The Investor Access initiative is the result of collaboration between a core group of eleven sponsoring banks and an active community of over 100 buy-side participants. The original sponsoring group includes BNP Paribas, Crédit Agricole CIB, Commerzbank, Goldman Sachs, HSBC, ING, MUFG, NatWest Markets, Santander, Societe Generale, and UBS.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit info.nice.comVisit http://go.jumio.com/finextraAdVisit https://secure.vasco.com

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
12644 views comments | 6 tweets | 7 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
10056 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9627 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
6553 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
6380 views comments | 2 tweets | 7 linkedin

Featured job

to GBP Six-Figure Base, double ote, benefits
London, UK

Find your next job