Ipreo has developed the methods for connecting buy-side trading systems to Investor Access to facilitate the placement of orders and receipt of allocations electronically
New York – April 26, 2017 – Ipreo, a leading global provider of market intelligence and workflow solutions to financial services and corporate professionals, announced its solution for integrating the Ipreo Investor Access platform, which allows investors to electronically submit orders directly to the sell-side syndicate banks on fixed-income new issues, with buy-side trading systems using the FIX Protocol.
Ipreo has been working with members of the FIX Trading Community, and the broader market, for the past two years to implement the best practices identified to place orders and receive allocations in equity new issues. Building on the work started by the FIX Trading Community’s IPO Subgroup, Ipreo has extended these industry best practices to make FIX messaging available on fixed-income new issues as well.
An industry-led initiative, Investor Access allows investors to be alerted to new-issue announcements, receive 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.
“We spent a great deal of time working with both investors and syndicate banks to ensure Investor Access is well suited to optimize and streamline deal workflow,” said Bill Sherman, EVP, Head of Global Markets Group at Ipreo. “Extending this workflow to integrate with existing order management and in-house deal management systems using industry-standard protocols and best practices has always been a goal of the initiative. We’re pleased to bring automation and efficiency to the fixed-income deal process within the industry standards that exist today.”
Ipreo has addressed the challenges of supporting fixed-income deal flow without needing a change or extension to the FIX Protocol. This approach makes integration between existing buy-side trading systems and Investor Access a straightforward and easily supportable task.
“It is encouraging to see companies like Ipreo apply their knowledge of the fixed-income primary markets to extend the workflows originally developed by the FIX Trading Community and contribute back to the market a workflow design to support the nuances of fixed-income primary issuance,” said Scott Atwell, Manager, FIX Trading and Connectivity, American Century Investments and co-leader of FIX Trading Community’s IPO Subgroup.
The Investor Access initiative is the result of collaboration between eleven sponsoring banks and an active community of over 100 buy-side participants. The original sponsoring banks include BNP Paribas, Crédit Agricole CIB, Commerzbank, Goldman Sachs, HSBC, ING, MUFG, NatWest Markets, Santander, Societe Generale, and UBS.
Ipreo is a leading global provider of financial services technology, data and analytics. We support all participants in the capital-raising process including banks, public and private companies, institutional and individual investors, as well as research, asset management and wealth management firms. Our unique, cross-asset class solutions equip our clients with the information and tools they need for more effective decision-making and a more efficient workflow. Ipreo is private-equity held by Blackstone and Goldman Sachs Merchant Banking Division, and has more than 1000 employees serving clients in every major financial hub around the world. Visit www.ipreo.com for more info.
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Caliber Corporate Advisors
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