Assessing the Impact of Regulation and Technology on Bond Syndication
International bond syndication is undergoing a process of potential transformation as EU regulation and technology innovation bring their respective changes to bear on this critical aspect of the primary debt capital markets.
Topics for discussion:
- Gauging the impact on bond syndication of MiFID II and MAR declarations on soft-sounding, gauging interest, information disclosure, inside information/MNPI, posting of levels, transaction announcement and allocation decisions.
- Is traditional bond syndication ripe for technology disruption by fully electronic platforms?
- Will blockchain rise up and ultimately dispense altogether with the need for syndication as we know it?
- Can digital code and cryptography ever replace human trust, nous and professional savoir-faire?
- Where does price discovery end up? What about optimising distribution and reducing execution risk and price stabilisation, particularly in difficult and often volatile markets?
- Do issuers face price volatility and failed deals?
- Whose needs are ultimately best met as reg and tech changes close in?
Moderated by Keith Mullin, the event was convened by a panel of experts from across the broad market ecosystem to assess the impact of the various strands of regulatory endeavour and the inexorable rise of fintech and technology solutions on the world of bond syndication.
Senior Director, Market Practice and Regulatory Policy, ICMA
Global Head of Local Currency Syndicate, HSBC
CEO, Origin Markets
Global Head of Capital Markets, IPREO
Partner, Allen & Overy
CEO and Chief Product Architect, Nivaura