Enhanced Security, Agility, & Ease of Onboarding – How Nasdaq Primary Leverages Cloud Technology for Digitalizing Primary Debt Market Workflows
In September 2022, we announced a landmark partnership with Nasdaq, uniting our forces to build a more efficient primary debt market. The result is Nasdaq Primary powered by Onbrane – one platform digitalizing a full debt issuance lifecycle, bringing every market actor together to structure, negotiate, issue, distribute and invest in debt products. With our synergies, six key values of the Nasdaq Primary Powered by Onbrane emerged.
Value #4 of Nasdaq Primary is the enhanced security and agility it provides by leveraging cloud technology. Our platform is a web-based Software as a Service (SaaS) solution, architected to keep data and processes safe while adjusting swiftly to the market’s fast-evolving needs. On top of this, joining Nasdaq Primary is easy for every user, offering a flexible, step-by-step onboarding process that creates new benefits with each step.
How Nasdaq Primary Powered by Onbrane is Setting Industry Standards Within Primary Debt Markets
In September 2022, we announced a landmark partnership with Nasdaq, uniting our forces to build a more efficient primary debt market. The result is Nasdaq Primary powered by Onbrane – one platform digitalizing a full debt issuance lifecycle, bringing every market actor together to structure, negotiate, issue, distribute and invest in debt products. With our synergies, six key values of the Nasdaq Primary powered by Onbrane emerged.
Value #3 of Nasdaq Primary is its inclusive approach to improving market efficiency by establishing new and improved industry standards with its user community. Our global team works hand-in-hand with public, corporate and financial institutions of all sizes to improve our users’ current processes, allowing us to set new and better industry standards together.
Piano & the Primary Debt Market
I am going to let you in on a little secret. The best part of my job is to talk to customers, especially potential customers. I like talking to the ones excited about joining Onbrane, of course. But our wealth of functionality, onboarding momentum, and partnership with Nasdaq do most of the talking nowadays. Hence, the ones I really like to talk to are actually the ones who insist that the old ways are the right way and that digitalization does not make sense for the Primary Debt Market. This is for them.
One Debt Market Platform for Issuers, Intermediaries, Advisors, and Investors
In September, we announced a partnership with Nasdaq and launched Nasdaq Primary powered by Onbrane – a new iteration of the Onbrane platform. Together, we are providing the market with a single platform to structure, negotiate, issue, distribute and invest in debt products.
One of the 6 key values of Nasdaq Primary is its ability to cater to every market participant across the value chain. In fact, it is the only platform currently on the market that achieves this ambitious goal.
In this article, we break down our approach to digitalizing debt negotiation and issuance through Nasdaq Primary and explain exactly how each market actor benefits from it.
From over 10% to 0.1%: Onbrane’s journey to eliminating Fat Finger errors
According to market actors, the rate of fat-finger trades on the CP market is between 10-20%. Onbrane managed to bring it down to 1.5%. The next goal is to get to 0.1%. Learn more on our fat finger strategy.
Onbrane x FOREX: Automatically execute currency swap related to your debt issuance
Onbrane’s forex module aims to facilitate currency swaps for treasurers that issue debt in multiple currencies. Inspired by our users’ requests, we created a much-needed bridge between the primary debt market and the forex market.
We have developed an API that allows direct connection between a forex platform and Onbrane, allowing automatic and seamless data flow.
Thanks to this addition, Onbrane users will manage yet another part of their debt issuance from a single screen, taking an STP process to another level.
The first FX platform to be integrated with Onbrane is 360T – an award-winning multi-bank, multi-asset global trading platform for OTC and listed financial instruments.
Onbrane is open to welcoming other FX solution providers that want to reinforce their offering to debt market actors by connecting to our platform.
EU Securitisation Regulation – What are the lessons learned from the reform?
On January 1, 2019, the Securitization Regulation (SECR) went to effect, which was the long-awaited reform for the European asset-backed debt markets. Indeed, this reform was to bring a clear, more accessible and standardized regulation (the simple transparent and standardised securitisation or “STS”) for the implementation of financial products from securitization, in order to be modernized and to attract interest from new actors (issuers, investors) for these financial products.
Unfortunately, almost 3 years later, market participants interviewed by AFME (Association for Financial Markets in Europe) on the effects of this reform are bitter. The structural problems persist, with the European market still lagging far behind in its development compared to the American market for asset-backed financial instruments.
These same problems had been brought to the attention of Onbrane, which wants to offer a tool that responds to some of the pain points highlighted in its asset-backed framework module.
How Engie onboarded Onbrane to negotiate commercial papers
Engie will remain for Onbrane the first issuer of NEU CP that will have completed a whole transaction on the platform from negotiating through its trading floor to post-trade processes such as ISIN retrieval and descent into the back-office systems. In addition, authentication management was also directly managed by Engie via their SAML.
Onbrane offers different levels of onboarding, from simple negotiation tools to a fully digitized process.
Engie’s onboarding has been progressive, each level of onboarding having been validated and pursued with further integration until arriving today at optimal use of Onbrane.
I would like to describe the different steps here and share with you testimonies!
Let’s go!
Interview With Jim SHEA, 22 year Goldman veteran on the USCP Market
Presentation of the speaker Introduce yourself in a few words / what is your background? Jim Shea, 22 year Goldman veteran, traded fixed income securities lending and non-fin USCP, enjoys playing music and cycling and skiing. Can you tell us about an event that particularly marked you in your career? My first experience trading CP […]
Why and How we add the Asset-Backed Commercial Papers on our platform
In terms of players, the ABCP market is a smaller market than the classic CP market, obviously with few vehicles issued to refinance a pool of assets. However, in terms of volume and particularly in USCPs, this market represents a good share of the total market. In fact, ABCP issuers often issue on multi-billion dollar programs.
This is why ABCP is an important part of the global Commercial Paper market.
