Will public firms benefit from a social platform connecting them with institutional investors and intermediaries? The London Stock Exchange Group (LSEG) is aiming to answer that question with the beta launch of ELITE Connect.
A social network, ELITE Connect is being tested by major European companies whose stocks are listed among the LSEG’s group of exchanges such as Borsa Italiana and the London Stock Exchange. Using ELITE Connect, companies will be able to create profile pages as well as social aspects to be messaged and followed. For investors, the platform contains the ability to search for specific types of companies. Once connected, ELITE Connect contains a messaging and appointment scheduling feature for its users. With this tool, members can connect using the ‘digital’ meeting room, which contains video conferencing, document sharing, and note taking facilities.
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Currently emerging as beta product for testing, the LSEG plans for ELITE Connect to have its wider public launch later in 2015. At that time, it will become available to public companies, investor relations professionals, institutional investors and brokers.
In creating the product, the LSEG believes that the platform will be able to decrease expenditures incurred by public companies related to meeting investors and marketing themselves in the public market. On this goal. Luca Peyrano, Managing Director, ELITE Connect, stated, “We know that approximately 90 per cent of listed companies travel the world to meet asset management firms and spend up to one month a year meeting face-to-face. ELITE Connect will help make investor relations more efficient, more international, and more valuable for all parties.”