A service to enable institutional investors to electronically submit indications of interest (IOIs) for new fixed income issues is due to be launched by technology vendor Ipreo.
The initiative, called Investor Access, is bank sponsored and will enable banks’ buy-side clients to receive alerts on new issues, receive information and submit and manage their IOIs and orders.
“Having worked closely with the buy side over the past 18 months and understanding the challenges they face, we’re pleased to be able to provide a system that makes the deal communications process more efficient and with less inherent risk,” said Allen Williams, managing director of Global Fixed Income at Ipreo.
The initiative first began development in 2014 and expects to launch a pilot later on this year, with full market rollout to follow.
Current bank sponsors include Banco Santander, BNP Paribas, Commerzbank, HSBC, MUFG, TBS and Societe Generale.
Jean-Marc Mercier, global co-head of Debt Capital Markets at HSBC, added: “We strive to offer our clients efficiency and choice in the way they submit and manage their business with us. Primary markets are no exception.
“We’re excited to be able to offer this service as part of our wider commitment to improving market efficiencies and client service.”