Investor Access launches in Asia Pacific market following success in EMEA
Ipreo, a leading global provider of workflow solutions and market intelligence to financial services and corporate professionals, announced the successful completion of the first Asia-Pacific deal on Investor Access, which allows investors to electronically submit orders and receive allocations directly through the sell-side syndicate banks on fixed-income new issues. The transaction was a 5yr 144A/RegS USD deal for NongHyup Bank from Korea.
The launch of Investor Access in the Asia-Pacific region comes on the back of the initiative’s strong growth in EMEA. Built on the foundation of Ipreo’s fixed-income syndicate connectivity software, IssueNet, Investor Access launched in January of this year and has seen the number of banks eligible to publish deals progress from eleven to twenty four, with an active community of more than one hundred investors able to view published deals. The Asia-Pacific IssueNet community has kept a watchful eye on Investor Access as it progressed in EMEA and begun to replicate this success in the Asia-Pacific market.
“Having worked on the syndicate side for many years in Asia, I have seen first-hand the need for increased efficiency and more timely communication between deal participants,” said Duncan Phillips, Ipreo’s Managing Director, Global Head of Capital Markets and former Head of APAC Debt Syndicate at Citigroup. “What has been most gratifying about the Investor Access initiative is the collaboration we’ve seen within the primary market community to see this evolution through.”
Similar enthusiasm has been expressed by market participants. Eric Cherpion, Global Head of DCM Syndicate at SG CIB said, “Societe Generale is excited to be a pioneer in the automation of the fixed-income new issue process with the first executed deal over Investor Access in Asia Pacific. Given the time differences of global deals between regions, software that delivers standardized terms and conditions with the ability to electronically communicate orders and allocations provides a significant efficiency boost to deals in Asia Pacific.”
“As an innovative institution, NongHyup Bank is supportive of the continued electronification of the fixed income primary market,” said Mr Sang Wook Jeon, Senior Manager, Treasury Department of NongHyup Bank. “We are pleased to be part of the first ever Investor Access transaction in Asia, which allowed both banks and investors to work together over Ipreo’s electronic network.”
Carl Wong, Portfolio Manager at Nexus Investment Advisors Ltd., a participant in the transaction, stated, “Investor Access provides greater clarity of information and enhanced flexibility in communicating with the sell side. The efficiency it brings adds significant value and saves time so I can shift focus on more strategic trading decisions.”
Investor Access allows investors to be alerted to new-issue announcements, receive structured information on deal terms and conditions, submit and manage orders, and receive electronic notification of allocation and pricing details, along with other deal-related information such as the prospectus and final terms. The Investor Access initiative is the result of collaboration between 24 banks and over 100 investors.
Ipreo powers the networks that connect capital to ideas. We are a leading global provider of financial services technology, data and analytics, supporting all participants in the capital-raising process, including banks, public and private companies, institutional and individual investors, as well as research, asset management and wealth management firms. Our unique, cross-asset class solutions equip our clients with the information and tools they need for more effective decision-making and a more efficient workflow. Ipreo is private-equity held by Blackstone and Goldman Sachs Merchant Banking Division, and has more than 1100 employees serving clients in every major financial hub around the world.