Paris-based NowCP and Luxembourg-based european primary placement facility (eppf), two of the most advanced digital platforms for commercial paper and bond issuances respectively, announced today the launch of a new strategic co-operation.
Together, eppf and NowCP will provide issuers with the full value chain of financial instruments from the short-end commercial paper to long-dated bonds in a fully automated manner and starting with NowCP's marketplace as primary and secondary market trading venue.
The joint initiative is expected to bring NowCP's Members closer to eppf's capital-markets-as-a-service expertise, spanning the entire value chain of bond issuance. Meanwhile, eppf's customers gain access to NowCP's marketplace as well as additional liquidity in the commercial paper market.
Robert Koller, executive chairman and founder at eppf, commented: "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".
Hervé Labbé, CEO of NowCP. added: "The cooperation between eppf and NowCP aims to transform scattered OTC markets into transparent and resilient digital markets at the European level. It draws directly on the CMU (Capital Markets Union) action plan and objectives as well as on the framework set by MiFID II: 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".