With help from Euroclear, the Bloomberg Terminal now provides ISINs for Negotiable European Commercial Paper (NEUCP).
The Bloomberg Terminal for news, data, insights, and trading systems will now provide International Securities Identification Numbers (ISINs) for Negotiable European Commercial Paper (NEUCP), according to Bloomberg, which has been collaborating with Euroclear to offer this same-day issuance framework.
The new framework is based on the integration of Bloomberg’s security reference data with Euroclear’s metadata “to enable ISIN sharing via Bloomberg’s Swift connectivity. The NEUCP ISIN service provides Bloomberg Terminal clients using the European Money Markets Offerings {ECPX<GO>} solution alongside Bloomberg TOMS with a standardized, automated and more efficient ISIN retrieval workflow throughout the trading process,” according to Bloomberg.
The collaboration “simplifies primary and secondary NEUCP trading by offering dealers, issuers, issuing and paying agents (IPAs) and investors with real-time access to ISINs,” according to the announcement.
“This feature will improve workflow efficiency from front- to back-office and mitigate settlement risk for users when they issue short-term debt on the NEUCP market, which is overseen by the Banque de France,” according to the announcement. “The integration is accessible via the European Money Markets Offerings {ECPX<GO>} and Security Description {DES<GO>} solutions on the Bloomberg Terminal.”
The joint effort “represents a logical next step on the path toward increased automation and transparency across money markets,” says Brad Foster, global head of fixed income product at Bloomberg, in a prepared statement.
“This contributes to a more efficient, standardized, and streamlined issuance ecosystem, reducing market fragmentation and boosting liquidity. This step further cements Euroclear’s position as a vital financial market infrastructure, connecting issuers and investors,” says Isabelle Delorme, head of product strategy and innovation at Euroclear, in a prepared statement. The collaboration “allows us to strengthen the largest commercial paper market in the euro area,” Delorme adds.
The Euroclear group consists of Euroclear Bank, the International CSD, Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden, and Euroclear U.K. & International, officials say.
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