Bloomberg has launched a price discovery platform that will bring more transparency to the Asian market for equity linked notes (ELNs). Bloomberg’s system, the first to consolidate pricing from sell-side firms, will streamline workflow for private banking desks that represent Asian high-net worth investors.
The Asian ELN market is growing rapidly, yet there has been no centralised platform to list, analyse, distribute and share data, Bloomberg executives say. The new Asian ELN consolidated price distribution and discovery system makes it easier for sell-side firms to share ELN pricing information with enabled clients. The system helps discern the best price and yield percentages for ELNs at various maturity dates and in multiple currencies.
"The Asian equity linked notes market is becoming more sophisticated and requires a centralised platform to promote further growth and transparency," says Jean-Paul Zammitt, global head of product strategy and development for the Bloomberg Professional service, which has more than 310,000 subscribers globally. "Now, execution desks, investment advisors and relationship managers, will have a comprehensive dashboard to easily compare a full range of instruments and prices, simplifying their workflow and communications."
Anurag Mahesh, Head of Global Investments and Key Client Solutions, Asia, at Deutsche Bank Private Wealth Management, says: "Creating a centralised platform for ELNs provides a level of transparency that ultimately benefits our clients and the market as a whole. The ELN platform provides a strong foundation for investors and distributors to drive this market forward."