Bloomberg Collaborates with Euroclear to Provide ISINs Automatically for Negotiable European Commercial Paper

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Nov 04, 2024, 08:15 ET

Improves Front- to Back-Office Workflow and Mitigates Settlement Risk within Money Market Security Creation Process

NEW YORK and BRUSSELS, Nov. 4, 2024 /PRNewswire/ -- Bloomberg, in collaboration with Euroclear, announced today the Bloomberg Terminal will now automatically provide International Securities Identification Numbers (ISINs) for Negotiable European Commercial Paper (NEUCP). This integration 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. It is accessible via the European Money Markets Offerings {ECPX<GO>} and Security Description {DES<GO>} solutions on the Bloomberg Terminal.

Isabelle Delorme, Head of Product Strategy and Innovation at Euroclear, said: "Collaborating with Bloomberg allows us to strengthen the largest commercial paper market in the euro area through an open and same-day issuance framework. 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."

Bloomberg's collaboration with Euroclear further simplifies primary and secondary NEUCP trading by offering dealers, issuers, issuing and paying agents (IPAs) and investors with real-time access to ISINs. Users can now streamline their workflow with ISINs that are available within minutes instead of hours or days, saving time and maintaining data quality by reducing errors associated with manual updates.

Brad Foster, Global Head of Fixed Income Product at Bloomberg, said: "Our joint efforts with Euroclear to provide ISINs for our clients represents a logical next step on the path toward increased automation and transparency across money markets. We are committed to developing additional strategic collaborations and expanding our coverage and quality in money markets as we look for new ways to unlock value for our clients in fixed income."

Bloomberg's security reference data is integrated 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.

About Euroclear
Euroclear group is the financial industry's trusted provider of post trade services. Guided by its purpose, Euroclear innovates to bring safety, efficiency and connections to financial markets for sustainable economic growth. Euroclear provides settlement and custody of domestic and cross-border securities for bonds, equities and derivatives and investment funds. As a proven, resilient capital market infrastructure, Euroclear is committed to delivering risk-mitigation, automation and efficiency at scale for its global client franchise. The Euroclear group comprises Euroclear Bank, the International CSD, as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden, Euroclear UK & International.

About Bloomberg Terminal
For more than four decades, the Bloomberg Terminal has revolutionized the financial services industry by bringing transparency and innovation to the capital markets. Trusted by the world's most influential decision-makers, the Terminal provides real-time access to news, data, insights and trading tools that help our customers turn knowledge into action.

About Bloomberg
Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.

SOURCE Bloomberg L.P.