Liquidnet and BondAuction Look To Broaden Access To Book Building Efficiencies - The Two Firms Announce Their Collaboration To Connect Auction Style Primary Debt Transactions To Order Management Systems (OMS)
Liquidnet, a leading technology-driven agency execution specialist, together with BondAuction, an auction platform for the Primary Debt Capital Markets, today announced their partnership to provide their mutual clients access to BondAuction’s offering from their Order Management System (OMS).
Building on Liquidnet Primary Markets’ established OMS connectivity, institutional investors will have the ability to place bids via Liquidnet into BondAuction’s efficient and secure platform directly from their OMS and receive allotments back.
Jonathan Gray, Head of Primary Markets at Liquidnet, said: “Our Primary Markets solution is available as both a standalone offering and one that integrates with other systems that our clients already use, or intend to use. We are thrilled to have the opportunity to collaborate with a firm like BondAuction who understand the importance of partnership and interoperability to further provide efficiencies and connectivity for investors, banks and issuers.”
Spencer Maclean, Co-Founder of BondAuction, added: “We collaborated with hundreds of issuers, investors and underwriters to build our platform from the ground up. We want to offer a more efficient means to access capital markets and deliver change for the better. BondAuction understands the importance of partnering with firms who share this common goal and we are excited by this unique opportunity to work together with Liquidnet and further the reach of our innovative platform.”
Carl James, Global Head of Trading at Pictet Asset Management, said: “Primary markets’ operational efficiency is a key step in the evolution of modernizing this space. Ensuring end-to-end connectivity, specifically with any buy-side OMS, is a crucial step. The buy side is keen to see progress and welcomes innovative solutions such as the partnering of Liquidnet with BondAuction to enhance the issuance process.”
Recently recognised as Best Electronic Trading Initiative at the TRADE Leaders in Trading 2022 awards, Liquidnet Primary Markets quickly established itself as one of the leading solutions to solve the current fragmented new issuance workflow. BondAuction launched in 2021 and building on over 70 years’ experience amongst the principals in running new issues and delivering transformational technology, introduced its new platform in September 2022. BondAuction went on to win the Dragons Den award at the Fixed Income Leaders Summit (FILS) in October 2022 for the fintech most likely to have an impact on the fixed income markets.