London, 16 February 2022
agora Digital Capital Markets (“agora”), today announced the successful completion of a series of multilateral pilot sessions of its syndicated bond product, a critical step in the development of the first truly end-to-end digital workflow for fixed income products through the agoraPlatform.
The sessions, held over the last eight months, were the largest of their kind, showing the workability and readiness of the product to handle the complex challenges faced in the primary market by the world’s leading global and regional issuers and investment banks. Fourteen investment banks –representing more than half of the market as measured by the 2021 SSA BookRunners League Table – 5 SSA issuers, and a major infrastructure provider participated in a series of test benchmark deals (USD and EUR) run simultaneously.
The *agoraPlatform* enables seamless interaction during the pre-issuance and launch of a new bond issue including pricing indications, mandate, deal management, party synchronisation and creation of both a digital term sheet and final terms. The platform synchronises all parties in the value chain in real-time using distributed ledger technology. The resulting innovative tool for capital markets professionals at issuers and banks saves time and captures essential data in a confidential and secure environment. This information will be directly available to service providers who operate and manage the post trade life of a bond.
Charlie Berman, co-founder and CEO at agora, said: “The success of these multilateral sessions emphasises the benefits of creating a minimum viable ecosystem of users to kick-start true digitisation in the primary issuance arena. The significant and tangible benefits of a process-enhancing, time and cost-saving tool were evident to all participants. We have greatly benefited from their input and suggestions, and will continue working with issuers, banks, lawyers and other service providers as we head towards live bond transactions.”
About agora Digital Capital Markets
agora Digital Capital Markets (registered as Digital Debt Capital Markets Ltd.) is a UK based technology company focused on transforming the entire lifecycle of financial instruments from issuance to redemption using digital ledger and smart contracting technology. agora’s software enables the first truly end-to-end digital workflow for the entire lifecycle of a bond, structured product, MTN or certificate through the deployment of its *agoraPlatform*. agora enhances, upgrades and improves communication and processes throughout a financial instrument’s lifecycle – from the pre-mandate or structuring stage, during execution, pricing and primary settlement and throughout the post-trade lifecycle until its final redemption.
Mediobanca reduces time to market required for new issues via new process using smart contracts and DLT (Distributed Ledger Technology), confirming its position at the cutting edge of investment certificates automation
Digital Debt Capital Markets Ltd (FRN: 938947, Registered Address: Unit 2.05 12-18 Hoxton Street, London, England, N1 6NG) is authorised and regulated by the Financial Conduct Authority.
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