Overbond, one of the first fintech platforms in the new bond issuance market, has launched OverbondX, newly integrated deal execution utility on its platform for investors, according to a company statement.
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The deployment of OverbondX allows for a number of different uses, enabling issuers of any caliber to execute both private placement and public offerings on a digital level. Moreover, the new module also allows investors to view and input orders within the Overbond platform itself, which helps mitigate operational risk and transaction costs for all parties.
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The launch of OverbondX is important as it helps provide several new functionalities from its existing platform, including a more comprehensive perspective view of real-time deal communication, optimal price discovery, investor order book management, predictive analytics, and other execution benefits.
Furthermore, the OverbondX module will also look to yield other benefits to bond market participants in the form of a more digitized deal execution process. In particular, issuers will be afforded more favorable market timing mechanisms and access to a broader investor base.
According to Vuk Magdelinic, Chief Executive Officer (CEO) of Overbond: “For the first time in the history of the bond market, corporate and government issuers, dealers and investors have all the tools required to digitally execute transactions for the entire primary bond issuance process, from pre-launch deal preparation to post-launch execution.”