Liquidnet, an institutional trading and equities network, announced on Tuesday of its plan to launch Liquidnet Debt Capital Markets (DCM), thus, entering the debt primary market technology space.
The company will integrate its upcoming debt market offerings with its Fixed Income trading platform. This will bring the primary and secondary market participants under a single platform.
Additionally, the product will offer ‘last-mile’ mile connectivity to buy-side for syndicate banks and will also streamline the mandatory manual processes in the debt market.
Commenting on the new product, Liquidnet’s global head of fixed income, Constantinos Antoniades said: “Our solution will provide an OMS-connected workflow, making the process of managing multiple new issues by asset managers more efficient, more automated, and less time-consuming. We are committed to providing the market with an open and interoperable industry solution that is available to all clients and banks in Europe and the US, and we look forward to working with other firms for the benefit of the industry.”
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Leveraging the Existing Dominance of Liquidnet
The New York-headquartered company is aiming to launch the product later this year, however, no specific timeline has been mentioned.
Liquidnet also validated and examined the workflow of the new product for 2 years in partnership with leading asset managers and syndicate banks across Europe.
DCM will also leverage Liquidnet’s existing network that includes over 1300 buy-side corporate bond traders and 500 asset managers, along with the integration with the OMS platforms.
Initially, the platform will cover new European corporate bond issues and will be available to all Liquidnet Fixed Income members and syndicate banks.
“We have crafted this solution together with asset managers and syndicate banks during more than 20 sessions with our three asset manager working groups in London, Paris, and Frankfurt, and our London-based syndicate bank working group,” Paul Tregidgo, a senior advisor at Liquidnet, said.