Clearwater Analytics has released a commercial paper (CP) issuance tool, aiming to improve firms’ efficiency by providing a real-time view of issuances.
With the goal of reducing spreadsheet-reliance, key man risk and manual data aggregation in the CP issuance space, the tool includes a suite of modules to enhance efficiency and provide a real-time, panoramic view of CP issuances through a centralised hub.
Users can decide what rates to issue new CPs at with the rates research module, which facilitates comparisons across sources including paper dealers, SOFR, and Fed CP, while taking into account peer comparison, benchmarking and reporting.
The tool’s issuance manager allows users to see upcoming maturities by dealer and set ranges, rates and allocations by dealer for upcoming issuances. Once these have been set, the dealer automatically receives instructions.
An issuance tracker allows the intraday issuance process to be monitored in real-time, comparing instructions, settlements and pending versus settled transactions. Through Clearwater’s reporting platform, reports can be run on an automated and customisable basis to illustrate balance sheets, exposures and performance.
Scott Erickson, chief revenue officer at Clearwater Analytics, commented: “Clearwater’s CP issuance tool will become indispensable for entities seeking to raise short-term capital efficiently. It caters to firms that want to modernize their CP issuance life cycle, effortlessly adhere to compliance protocols, and, for financial institutions, bolster their service portfolios for clientele that would welcome sophisticated CP issuance solutions.”
Sunil Dixit, chief product officer at the firm, added: “Clearwater is expanding into the capital markets realm, specifically in debt issuance to raise capital. Clearwater’s substantial investment into R&D innovation makes innovative advancements like this possible. We’re confident Clearwater’s CP issuance solution will not only lead the market in adoption, but will also set the industry standard for operational excellence.”
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