Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Nyse  >  Wells Fargo & Company    WFC


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

DirectBooks : Launches Communications Platform for the Primary Issuance of Corporate Bonds

11/19/2020 | 08:01am EST

NEW YORK, Nov. 19, 2020 /PRNewswire/ -- DirectBooks™, the capital markets consortium founded to optimize global financing markets, today announced that it has launched its core service to simplify and evolve the primary issuance process for corporate bonds. DirectBooks was formed and is supported by 9 global banks, consisting of Bank of America, Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley, and Wells Fargo.

Addressing inefficiencies in the marketplace across multiple communication channels, DirectBooks simplifies the primary issuance process using a common set of structured data and streamlined communications. The new platform increases workflow efficiency and accuracy of deal information among market participants, distributed through a robust communications infrastructure that can be integrated into underwriter and investor systems.

"It is exciting to be able to launch our platform this year and move from start-up to scale-up," said DirectBooks CEO, Rich Kerschner. "The combination of our market knowledge, talented team, advanced and scalable technology, and growing network of market participants, has enabled DirectBooks to continue to move forward despite challenging working conditions in 2020. We are delivering on our mission to optimize global financing markets, and this is the first step on our journey for the benefit of the market."

The DirectBooks platform launched initially with deal announcement functionality for globally distributed U.S. Dollar Investment Grade issuances, offering a common set of structured deal data and document access for institutional investors. Orders and Allocations functionality will be added next, and the product set will continue to expand globally with Euro deals in the first half of 2021. Onboarding of additional dealers and institutional investors will continue to be phased in throughout this quarter and into 2021.

DirectBooks developed the platform in partnership with Axoni, a New York-based technology firm that specializes in multiparty financial workflows and distributed ledger technology, which has been deployed as critical infrastructure in a wide range of global capital markets.  The DirectBooks primary issuance platform leverages Axoni's expertise and technology to deliver a service that is scalable across asset classes and regions.

For a detailed FAQ, please click here: www.directbooks.com


DirectBooks leverages its technology expertise and market knowledge to optimize global financing markets. DirectBooks improves the efficiency and accuracy of communications for underwriters, allowing institutional investors to focus on their investment process. DirectBooks was formed by 9 global banks, consisting of Bank of America (NYSE:BAC), Barclays (NYSE:BCS), BNP Paribas (FR:BNP), Citi (NYSE:C), Deutsche Bank (NYSE:DB), Goldman Sachs (NYSE:GS), J.P. Morgan (NYSE:JPM), Morgan Stanley (NYSE:MS), and Wells Fargo (NYSE:WFC). For additional information on DirectBooks, please visit www.DirectBooks.com.

Chris Rodriguez
(848) 888-7704

View original content to download multimedia:http://www.prnewswire.com/news-releases/directbooks-launches-communications-platform-for-the-primary-issuance-of-corporate-bonds-301176587.html

SOURCE DirectBooks

© PRNewswire 2020
All news about WELLS FARGO & COMPANY
10:04aMajor Banks Log Releases for Bad Loans in 4Q
09:59aSKILLZ : Wells Fargo Initiates Coverage on Skillz With Equal Weight Rating, $28 ..
09:49aWALL STREET STOCK EXCHANGE : Stocks Open Lower After Joe Biden Plan Raises Tax C..
09:10aJPMORGAN, PALANTIR, BLACKBERRY : What to Watch When the Stock Market Opens Today
08:59aWELLS FARGO MPANY : Reports Earnings Rose 4% -- Update
08:59aStock Futures Slide on Tax Concerns
08:58aSECTOR UPDATE : Financial
08:35aWELLS FARGO MPANY : Reports Earnings Rose 4%
08:27aStock Futures Slide on Tax Concerns
08:22aWELLS FARGO MPANY : 4Q profit rose 4%, tops Street estimates
More news