Ipreo’s Electronic Order Submission Solution Premieres with a Deal for Commonwealth Bank of Australia

Backed by major banks, Ipreo’s solution allows investors to electronically submit orders directly to sell-side syndicate banks on fixed-income issues.

looking up into the clouds between buildings in the City of London

A five-year GBP-denominated covered bond transaction was executed for a Commonwealth Bank of Australia (CBA) deal last Thursday led by CBA, HSBC and Nomura. It is the first time both sell-side and buy-side participants have conducted the deal process electronically on a live primary issue.

Market intelligence provider Ipreo has worked on the solution with global financial institutions for over two years, seeking to improve efficiency in the primary-issue process.

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.

The initiative is the result of collaboration between 11 sponsoring banks and over 100 buy-side participants.

The original group includes BNP Paribas, Crédit Agricole CIB, Commerzbank, Goldman Sachs, HSBC, ING, MUFG, NatWest Markets, Santander, Societe Generale, and UBS.

Investor Access is available to all banks in Europe, the Middle East and Africa and Ipreo has been working with major banks in Asia to prepare for going live this year.

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