 New Issue Management:
Setup and manage all information on a deal:
.... Issuer Profiles: company description, CUSIP, sector, exchange, symbol
.... Terms: size, pricing, issue type, security, options, process, yields,
warrants, out clauses, etc.
.... Timing: track dates for announcement, pricing, closing, and marketing.
.... Deal Status: show deal statuses and enable/restrict order activities.
.... Contacts: corporate finance, analysts, issuer, underwriter’s council.
.... Commentaries: by syndication, compliance, finance, and settlements.
.... Fees: track expenses and economics via fixed (standard economics),
based on sales, and jumpball
fee structures.
.... Jurisdictions and Eligibility: restrict orders based on jurisdiction
and eligibility of accounts.
.... Attachments: store and access term sheets, prospectuses, greensheets, offering memorandums,
and subscription agreements.
Syndicate Book:
Manage deal book and dealer orders:
.... Manage book size and allocation by sales channel.
.... Exercise Underwriter's and/or Over-Allotment options.
.... Manage syndicate members and associated deal % and work %.
.... Capture interest and allocations for each syndicate member.
.... Manage selling group members orders.
Retail Book:
Bookbuilding at
the syndication, branch, IA, and client levels:
.... Retail Syndication Book:
. Manage Branch allocations and “drill down” into Branch and IA books.
. Automated Pullback of allocations in excess of demand.
.... Branch Order Book:
. Enter branch bulk interest and track IA books by interest, assigned,
confirmed, and contracted orders.
. Perform manual and automated allocations to IAs.
Advisor Order Book:
. Enter bulk interest, track client interest and perform allocation to
client accounts with features for
auto-fills.
. View client profile and client new issue activity.
. Sales assistant access and joint RR code order management
between permissioned users.
.... Allocation Engine:
. Perform automated allotments based on pro rata interest or past performance.
. Performance ratio algorithm can set criteria based on trailing new issue sales (3, 12, and 13-24
months),
trailing total sales, number of advisors in a branch, and bought
deal multiplier.
Institutional Book:
Bookbuilding for marketed and bought deals:
.... Enter client interest at various price thresholds.
.... Capture exempt purchaser details including time/date stamp and
employee affirming allocation.
.... Capture client information including contact, ranking, and comments.
.... Execute co-lead client orders for dealers.
.... Rapid order entry for bought deals with features for auto-fill.
.... Perform demand modeling and show price sensitivities.
.... Perform automated allocations based on client ranking algorithms.
.... Perform ticketing to client sub-accounts after final allocation.
Ticketing:
Perform straight-through processing of contracted orders:
.... Settlements:
enter details including CUSIPs, inventories, settlement type,
trade basis, depository,
transfer agent, and coded trailers.
.... Ticketing: ticket buys and sells to retail, institutional, dealer, inventory, and issuer.
.... Export: transmission of tickets to back-office.
.... Back-Office Support: ADP, Dataphile, ISM
Reporting:
Automatic generation of reports:
.... Compliance Reports: Distribution Certificate, Schedule A, Form 2E, IDA Pre-marketing Certificate,
Purchasers List.
.... Deal Reports: Deal Sheet, P&L Statement, Buyers/Exempt List.
.... Finance Reports: Capital Report.
.... Performance Reports: by client, by branch, by advisor, and by dealer.
.... Search Engine: ad hoc searching of issues by various deal criteria.
Calendars:
.... Roadshow:
- Enter roadshow events and view in calendar by month, week, and day.
- Download events to MS Outlook calendar.
- Register for events and view event registration reports.
.... Critical Dates:
- View deal dates including Announcement, Pricing,
and Closing and navigate into a deal from
the calendar view.
Key Users:
.... Components are accessible through various user defined roles and are customized
to the following users:
- ECM Retail
- ECM
Institutional
- Retail
Branch Manager
- Retail
Broker
-
Institutional Sales Desk
-
Institutional Sales Reps/Traders
- Investment
Banking
- Compliance
- Finance
- Operations
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