BNP Paribas has released further details about its internet platform for Euro-MTNs, MTNMaster. The system was announced last week at the global medium term note market conference. And Daniel Cogoi, BNP Paribas' head of Euro-MTNs, is confident the site improves on UBS Warburg's system, which is its only rival in the market. "MTNMaster puts the whole cycle of buying an MTN, from A to Z, online," he says. Investors can type in exactly what sort of trade they are looking for in the Project Monitor section of the site. The system then informs all issuers that are looking to launch a similar trade. But though MTNMaster can match issuers and investors, even for structured trades, the telephone will remain central to trading. "We feel issuers are not yet ready to go for a full trading system," says Cogoi. He admits that the most important short-term benefits of the site are that links between the MTN desk and the sales team will be much improved. His priority is to get the sales team onto the system before persuading investors to register.
October 20, 2000
