Liquidnet and BondAuction Look to Broaden Access to Book Building Efficiencies
The two firms announce their collaboration to connect auction style primary debt transactions to Order Management Systems (OMS)
LONDON–(BUSINESS WIRE)–Liquidnet, a leading technology-driven agency execution specialist, together with BondAuction, an auction platform for the Primary Debt Capital Markets, today announced their partnership to provide their mutual clients access to BondAuction’s offering from their Order Management System (OMS).
Building on Liquidnet Primary Markets’ established OMS connectivity, institutional investors will have the ability to place bids via Liquidnet into BondAuction’s efficient and secure platform directly from their OMS and receive allotments back.
Jonathan Gray, Head of Primary Markets at Liquidnet, said: “Our Primary Markets solution is available as both a standalone offering and one that integrates with other systems that our clients already use, or intend to use. We are thrilled to have the opportunity to collaborate with a firm like BondAuction who understand the importance of partnership and interoperability to further provide efficiencies and connectivity for investors, banks and issuers.”
Spencer Maclean, Co-Founder of BondAuction, added: “We collaborated with hundreds of issuers, investors and underwriters to build our platform from the ground up. We want to offer a more efficient means to access capital markets and deliver change for the better. BondAuction understands the importance of partnering with firms who share this common goal and we are excited by this unique opportunity to work together with Liquidnet and further the reach of our innovative platform.”
Carl James, Global Head of Trading at Pictet Asset Management, said: “Primary markets’ operational efficiency is a key step in the evolution of modernizing this space. Ensuring end-to-end connectivity, specifically with any buy-side OMS, is a crucial step. The buy side is keen to see progress and welcomes innovative solutions such as the partnering of Liquidnet with BondAuction to enhance the issuance process.”
Recently recognised as Best Electronic Trading Initiative at the TRADE Leaders in Trading 2022 awards, Liquidnet Primary Markets quickly established itself as one of the leading solutions to solve the current fragmented new issuance workflow. BondAuction launched in 2021 and building on over 70 years’ experience amongst the principals in running new issues and delivering transformational technology, introduced its new platform in September 2022. BondAuction went on to win the Dragons Den award at the Fixed Income Leaders Summit (FILS) in October 2022 for the fintech most likely to have an impact on the fixed income markets.
About Liquidnet
Liquidnet is a leading technology-driven, agency execution specialist that intelligently connects the world’s investors to the world’s investments. Since our founding in 1999, our network has grown to include more than 1,000 institutional investors that collectively manage $33 trillion in equity and fixed income assets. Our network spans 46 markets across six continents. We built Liquidnet to make global capital markets more efficient and continue to do so by adding additional participants, enabling trusted access to trading and investment opportunities, and delivering the actionable intelligence and insight that our customers need. For more information, visit www.liquidnet.com and follow us on Twitter @Liquidnet.
About TP ICAP Group plc
TP ICAP is a leading global markets infrastructure and data solutions provider. The Group connects buyers and sellers in global financial, energy and commodities markets. We are the world’s largest wholesale market intermediary, with a portfolio of businesses that provide broking services, trade execution, data & analytics, and market intelligence. www.tpicap.com
About BondAuction
BondAuction provides an auction platform for the Primary Debt Capital Markets, ensuring significant improvements in the new issue process benefitting issuers, underwriters and investors. Building on over 70 years’ experience amongst the principals in running new issues and delivering transformational technology, the BondAuction product is a transparent, efficient, and secure platform for issuers and underwriting banks to auction primary debt transactions and connect to institutional investors.
© 2023 Liquidnet Holdings, Inc. and its subsidiaries. Liquidnet, Inc. is a member of FINRA/SIPC. Liquidnet Europe Limited is authorised and regulated by the Financial Conduct Authority in the UK, is licensed by the Financial Sector Conduct Authority in South Africa and is a member of the London Stock Exchange and a remote member of the SIX Swiss Exchange. Liquidnet EU Limited is authorised and regulated by the Central Bank of Ireland and is a remote member of the Warsaw Stock Exchange. Liquidnet Canada Inc. is a member of the Investment Industry Regulatory Organization of Canada and a member of the Canadian Investor Protection Fund. Liquidnet Asia Limited is regulated by the Hong Kong Securities and Futures Commission for Type 1 and Type 7 regulated activities and is regulated by the Monetary Authority of Singapore as a Recognized Market Operator. Liquidnet Japan Inc. is regulated by the Financial Services Agency of Japan and is a member of JSDA/JIPF. Liquidnet Australia Pty Ltd. is registered with the Australian Securities and Investment Commission as an Australian Financial Services Licensee, AFSL number 312525, and is registered on the New Zealand Financial Service Providers Register (FSPR number FSP3781). Liquidnet Singapore Private Limited is regulated by the Monetary Authority of Singapore as a Capital Markets Services Licensee, CMSL number CMS 100757-1. Liquidnet Holdings, Inc. and its subsidiaries are part of TP ICAP Group plc.
Contacts
Sophonie Robichon, Liquidnet
Global Marketing + Communications
+44-207-614-1753
[email protected]
