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    Nasdaq Primary

    Streamlined platform for primary debt market digitalization


     

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    Efficiency, transparency and simplicity for all actors of the debt ecosystem

    Nasdaq Primary is a software as a service (SaaS) solution, providing all debt market participants with a comprehensive platform to negotiate and issue debt in a standardized format. The platform covers every step of the debt issuance process, from collaborative framework creation, documentation management, bilateral negotiation to debt origination and distribution.

    Discover the impact that digitalizing your debt issuance through Nasdaq Primary can bring to your organization!

    Read the Nasdaq Primary factsheet

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    Key Benefits

    Virtual Office

    Security features enable the primary debt markets to be accessed from anywhere

    Powerful Integration Possibilities

    Connected market infrastructure that answers today's growing demand for efficiency, security and compliance

    Comprehensive ESG toolkit

    One-stop ESG solution to promote, negotiate, and capture investment opportunities in the sustainable debt market

    Unparalleled User Experience

    Designed with and for market actors, recognized for user-friendliness and distinctive visual identity

    Enhanced Data Intelligence

    Large source of market and ESG data that brings the necessary market insights to your primary market activity

    Complete audit trail

    Fully exportable negotiation history and traceable actions bringing transparency and compliance to your market activity

    How It Works

    Negotiation Onbrane Platform

     

     

    Nasdaq Primary concentrates the entire debt issuance lifecycle on an OTC platform. The platform provides functionalities that help simplify collaboration between issuers, dealers, brokers, advisors, and asset managers through the entire process, from collaborative framework creation, documentation management, bilateral negotiation, all the way to debt origination, distribution, and secondary market activity.

    The platform can be easily integrated with any third-party software used by the industry, minimizing the need for repetitive manual entries and therefore operational risks. This saves users considerable time and allows them to focus on the most critical parts of their job - data analysis and market interactions for better capital management.

    Nasdaq Primary for Issuers

    • More financing options
      We provide issuers with increased reach in terms of markets and geographies, and the possibility to cover more debt products and investors around the world.
       
    • Reduced manual errors and administration
      By being integrated with treasury management systems and automating post-trade, Nasdaq Primary facilitates a full STP process, saving treasurers time and reducing operational risks. These features allow treasurers more room to focus on the most important parts of their job—better cash management and data analysis.
       
    • Growth of ESG capabilities
      In today’s market climate, treasurers need to be equipped with advanced tools for ESG. Nasdaq Primary provides a one-stop solution for ESG debt issuers, allowing them to collaboratively build and promote their framework with counterparts, gain unparalleled visibility in the investor community and issue ESG debt products with ease.

    • More financing options
      We provide issuers with increased reach in terms of markets and geographies, and the possibility to cover more debt products and investors around the world.
       
    • Reduced manual errors and administration
      By being integrated with treasury management systems and automating post-trade, Nasdaq Primary facilitates a full STP process, saving treasurers time and reducing operational risks. These features allow treasurers more room to focus on the most important parts of their job—better cash management and data analysis.
       
    • Growth of ESG capabilities
      In today’s market climate, treasurers need to be equipped with advanced tools for ESG. Nasdaq Primary provides a one-stop solution for ESG debt issuers, allowing them to collaboratively build and promote their framework with counterparts, gain unparalleled visibility in the investor community and issue ESG debt products with ease.

    Nasdaq Primary for Intermediaries

    • Remain at the center of the negotiations
      On Nasdaq Primary, dealers and brokers negotiate in a bilateral way with all their issuers and investors. They can renegotiate the terms (amount, starting date, maturity, rate, etc.) using a flexible offer/counter-offer system until they reach an ultimate deal.
       
    • Enhanced market presence
      Having a single place to negotiate with all their counterparts, Nasdaq Primary intermediaries are better positioned to be more reactive to their client's needs. Furthermore, the platform makes it easier to discover and open lines of communication with new issuers and investors on the platform.
       
    • Open platform
      Nasdaq Primary is connected to the debt market ecosystem (clearers and IPAs), allowing Intermediaries to buy a debt instrument on the platform and sell it elsewhere and vice versa.

    • Remain at the center of the negotiations
      On Nasdaq Primary, dealers and brokers negotiate in a bilateral way with all their issuers and investors. They can renegotiate the terms (amount, starting date, maturity, rate, etc.) using a flexible offer/counter-offer system until they reach an ultimate deal.
       
    • Enhanced market presence
      Having a single place to negotiate with all their counterparts, Nasdaq Primary intermediaries are better positioned to be more reactive to their client's needs. Furthermore, the platform makes it easier to discover and open lines of communication with new issuers and investors on the platform.
       
    • Open platform
      Nasdaq Primary is connected to the debt market ecosystem (clearers and IPAs), allowing Intermediaries to buy a debt instrument on the platform and sell it elsewhere and vice versa.

    Nasdaq Primary for Asset Managers

    • Transparent market access
      On Nasdaq Primary, asset managers have direct digital access to the primary debt market and leverage comprehensive market data to identify the most suitable investment opportunities for their portfolios.
       
    • Direct fund allocation management
      Asset Managers can link order flows from their order management systems to negotiations on Nasdaq Primary and manage fund allocations directly from the platform. Nasdaq Primary is connected to industry-leading portfolio management software, such as Aladdin, via APIs, allowing asset managers to enjoy effortless execution and minimize operational risks.
       
    • Unparalleled view of sustainable investment opportunities
      Nasdaq Primary provides a transparent and comparable view of ESG frameworks and issuers, allowing investors to laser-focus their decisions and effortlessly track the impact of their sustainable investments.

    • Transparent market access
      On Nasdaq Primary, asset managers have direct digital access to the primary debt market and leverage comprehensive market data to identify the most suitable investment opportunities for their portfolios.
       
    • Direct fund allocation management
      Asset Managers can link order flows from their order management systems to negotiations on Nasdaq Primary and manage fund allocations directly from the platform. Nasdaq Primary is connected to industry-leading portfolio management software, such as Aladdin, via APIs, allowing asset managers to enjoy effortless execution and minimize operational risks.
       
    • Unparalleled view of sustainable investment opportunities
      Nasdaq Primary provides a transparent and comparable view of ESG frameworks and issuers, allowing investors to laser-focus their decisions and effortlessly track the impact of their sustainable investments.

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    Understand the Platform

    Nasdaq Primary supports plain vanilla, asset-backed, collateral, and sustainable formats for the following debt instruments

    • NEU CP
    • ECP
    • US CP
    • SEK CP
    • NEU MTN

    Nasdaq Primary includes both standard and semi-standard debt products ranging from less than 1 year for ECP, NEU,CP, and USCP to 1 to 6 years for MTN

    • Less than 1 year (ECP, NEU CP, USCP)
    • From 1 to 6 years (MTN)

    Nasdaq Primary allows for the digitalization of the debt issuance process on a cutting-edge OTC platform that covers every step from pre-negotiation to post, and data exploration.

    Decentralized technologies

    Deep data management

    Frequently Asked Questions

    Nasdaq Primary caters specifically to every market participant across the value chain, including issuers, dealers, brokers and asset managers, connecting them all on one easy-to use platform.

    The advantages of using Nasdaq Primary vary by party, like issuers, intermediaries, and investors. Issuers can expect increased financing options, reduced manual errors and administration costs, and growth of ESG capabilities. Intermediary's advantages include being the center of negotiations, a seamless workflow, and scaled-up reach with new issuers and investors. Investor's advantages range from transparent market access to direct fund allocation management and an unparalleled view of sustainable investment opportunities.

    To recap:

    Issuers

    • Increased financing options
    • Reduced manual errors and administration
    • Growth of ESG capabilities

    Intermediaries

    • Center of negotiation
    • Seamless Workflow
    • Enhanced Market Presence
    • Scaled up reach

    Investors

    • Transparent market access
    • Direct Fund Allocation Management
    • Unparalleled view of Sustainable investment opportunities

    Nasdaq Primary supports plain vanilla, asset-backed and sustainable formats for the following debt instruments:

    • NEU CP
    • ECP
    • US CP
    • SEK CP
    • NEU MTN

    View All FAQs

    Don't see your question listed? Get in touch.

    Discover How Nasdaq Primary Helps Simplify Debt Negotiation and Issuance

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    Introducing 6 Values of Nasdaq Primary ->
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    Issuers, intermediaries, advisors, and Investors finally on one single platform ->
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    A much-needed virtual office for all debt market actors ->
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    How Nasdaq Primary is Setting Industry Standards Within Primary Debt Markets ->
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    Enhanced Security, Agility and Onboarding: How Nasdaq Primary Leverages Cloud Technology for Digitalizing Primary Debt Market Workflows ->

    Client Announcement


    Welcome Hexagon - 1st Swedish Issuer on the Platform

    Hexagon on Nasdaq Primary powered by Onbrane – the 1st Swedish issuer on the platform

    What Our Customers Say

    Nasdaq Primary has been developed in partnership with Onbrane, a European fintech company focusing on producing sustainable and innovative solutions for the debt market leveraging web-based technology.

    Onbrane's clients include some of the largest public and private issuers in Europe, as well as prominent banks, brokers and asset managers.
     

    Given what AFS Group, along with the rest of the market, is facing with digitalization, Onbrane is a valuable tool for us. The platform is streamlining our processes and allows us to strengthen the partnerships with clients. Thanks to Onbrane, we are reaching new geographies and starting new business relationships effortlessly. The Onbrane team is a pleasure to work with - always responsive, reactive, and solution-oriented. We believe that Onbrane could be adopted as a preferred platform by many of the debt market actors.

    Marcel Coppejans, Managing Director, AFS Interest B.V.

    We have chosen an open infrastructure within an evolving ecosystem to enable end-to-end automation and risk reduction. Our recent developments make it possible to accommodate platforms that wish to provide their users with a resilient and efficient infrastructure. We welcome the success of the first tests of this connection with Onbrane. We believe that the link between incumbent and new players is essential to avoid market fragmentation and to improve market efficiency.

    Caroline Derocle, Product Expansion and Group Strategy, Euroclear

    The platform makes it easy to digitize and meet our needs in our 2 markets, USCP and NEU CP. On the NEU CP, I was able to put in fixed or variable rates. It's very easy to use. You can choose the dealers you can and want to work with. For us, it is really on the back-office part that there is a big saving of time. The advantage of this platform is that it does not change the market habits, we keep the same relationship with the dealers and brokers.

    Gregory Michel, Senior Front Officer – Treasury and Risk Management, Engie

    Onbrane is modernizing the issuance and settlement of Commercial Papers by bringing together all stakeholders in a single, efficient and secure environment. While the chosen architecture, which capitalizes on the recognized skills of market actors, has obvious benefits on the operational side, it also makes it possible to improve the efficiency and accessibility of reliable, traceable and comparable information. Harmonized financial transparency for all players, whether specialized or not, will help strengthen the confidence in a modern financial system necessary for companies’ stability and, thus, the strength of the economy.

    Jun Dumolard, CFO, Unédic

    Trade Talks

    Interview with Onbrane Co-Founder & CEO

    Eliasson

    The global debt markets are undergoing a paradigm shift where manual processes are being replaced with automated technical solutions. We look forward to boosting this shift by combining Onbrane’s platform with Nasdaq’s extensive experience in building efficient market solutions.

    Ann-Charlotte Eliasson, Vice President and Head of European Debt Listings and Sustainable Bonds, Nasdaq

    Read the announcement

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