T. Rowe Price has deployed low-code application development platform Genesis Global’s solution, Primary Bond Issuance (PBI), as part of an effort to streamline corporate bond data management and workflows.
Dwayne Middleton
The offering has been tailored specifically for T. Rowe Price’s needs and is expected to support the firm in enhancing the efficiency of its fixed income investment teams through the bond deal lifecycle, spanning roadshow to pricing.
Additionally, the PBI solution will optimise how teams track and invest in deals, and aggregate data to provide a real-time view of deals coming to market, as well as connectivity to chat functionality and integrations with the firm’s portfolio modelling and order management-related systems.
“The new issue application, built to our specifications and delivered through the Genesis platform, enables a scalable and repeatable investment process in the primary bond market,” said Dwayne Middleton, global head of fixed income trading at T. Rowe Price.
“By addressing data fragmentation and improving collaboration across trading, portfolio management and research, we now have a modern, integrated tool to view the market and assess opportunities with greater speed and precision.”
Middleton also highlighted the offering’s ability to generate a composite deal record from multiple sources reflecting each transaction’s full structure as a vital tool during periods of elevated issuance.
Read more – The T. Rowe Price fixed income desk on making an impact
The solution was also developed for the firm through collaboration with T. Rowe Price’s technology managers, traders and trading analysts.
Moreover, T. Rowe Price’s specific PBI will initially cover investment-grade corporate bonds, with plans to expand to high-yield and emerging-market corporate bonds expected over the next few weeks.
“We believe that PBI gives T. Rowe Price an edge in the highly competitive market for corporate bond deals,” said James Harrison, co-founder and chief executive of Genesis Global.
“Our ability to customise our solution to meet the data, workflow and system integration needs of the fixed-income team at T. Rowe Price is a testament to the expertise offered by Genesis and the adaptability of our technology.”