NowCP, Paris, and european primary placement facility (eppf), Luxembourg, have launched a new co-operation to provide issuers with the full value chain of financial instruments from the short-end commercial paper to long-dated bonds.
The cooperation will be fully automated starting with NowCP’s marketplace as the primary and secondary market trading venue.
NowCP’s CEO Hervé Labbé explained the co-operation between eppf and NowCP aims to transform “scattered over-the-counter markets into transparent and resilient digital markets at the European level”.
According to Labbé, it draws directly on the Capital Markets Union action plan and objectives as well as on the framework set by the second Markets in Financial Instruments Directive.
The two platforms will enlarge their issuer and investor bases, and NowCP Members will access efficient digital documentation on Euro Commercial Paper thanks to eppf, Labbé noted.
Meanwhile, eppf’s customers will benefit from NowCP’s marketplace and will get access to additional liquidity in the commercial paper market.
Robert Koller, executive chairman and founder at eppf, said: “The collaboration provides issuers, banks and investors with a comprehensive digital service and is further driving the implementation of the EU’s Capital Markets Union.”
“By helping customers issuing financial instruments in a fully digital, automated and near real-time manner, our platforms offer complementary services and will provide significant added value to our customers,” Koller added.
