Nasdaq has launched a software as a service (SaaS) solution called Nasdaq Primary for debt market participants in partnership with French fintech company Onbrane.
Nasdaq Primary is said to enable companies to digitalise the process of raising debt capital by bringing together all market actors on a single platform.
The SaaS solution is designed to help debt market participants in structuring, negotiating, issuing, and investing in short-term debt instruments.
Onbrane is engaged in providing a debt market platform that is said to bring together issuers, intermediaries, and investors around the world.
Nasdaq vice president and European debt listings and sustainable bonds head Ann Eliasson said: “The global debt markets are undergoing a paradigm shift where automated technical solutions are being introduced to support efficiency.
“We look forward to boosting this shift by combining Onbrane’s platform with Nasdaq’s extensive experience in building market solutions. We believe this partnership could benefit all market participants.”
Under the partnership, Onbrane serves as a technology fabric that will help in connecting counterparties.
It will also facilitate the negotiation and issuance of debt in a format that is standardised to help reach deals more quickly and securely by the removal of manual data entry.
Onbrane co-founder and CEO Pascal Lauffer said: “Onbrane’s purpose is to help build a better, more sustainable primary debt market. We couldn’t think of a better partner than Nasdaq to do so.
“In addition to sharing the same passion for technology, Nasdaq and Onbrane share the same commitment and focus on bringing innovative technology to the debt market.
“We are very excited to partner with Nasdaq to provide the global primary debt market with a market infrastructure that answers today’s growing demand for efficiency, security compliance and sustainability.”