Nasdaq Primary

Digitalizing primary debt market workflows on one connected platform

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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

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

: Vanilla Debt

Sustainable Debt

Asset-Backed Debt

Collateral Debt
: Less than 1 year (ECP, NEU CP, USCP)

From 1 to 6 years (MTN)
: Pre-negotiation

Buy- and sell-side negotiation

Post-negotiation

Data exploration
: Issuers, dealers, brokers, investors, clearers, paying agents and custodians all find added value on Nasdaq Primary.
: 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.
: For Issuers:

Increased financing options

Improve your reach in terms of markets, geographies and intermediaries. With Nasdaq Primary, you can cover more debt products and investors around the world.

Reduced manual errors and administration

By being integrated with your back-office systems and automating post-trade, Nasdaq Primary facilitates a full STP process, saving you time and reducing operational risks.

Growth of ESG capabilities

Nasdaq Primary provides a one-stop solution for ESG debt issuers that allows them to collaboratively build and promote their framework with counterparts, gain unparalleled visibility in the investor community and issue ESG debt products with ease.

For Intermediaries:

Center of negotiation

Dealers and brokers remain at the center - negotiate bilaterally with your issuers and investors. Renegotiate the terms (amount, starting date, maturity, rate) as desired until you reach a final deal.

Seamless Workflow

From the first contact with issuers to distribution to investors.

Enhanced Market Presence

Be the first to respond to your clients and the quickest to reach investors - never again lose an opportunity from missing an email, bloom chat or phone call.

Scaled up reach

Easily discover and open lines with new issuers and investors on the platform.

For Investors:

Transparent market access

Enjoy direct digital access to the primary debt market and leverage market data to identify the most suitable investment opportunities for your portfolio.

Direct Fund Allocation Management

Link your order flow from your OMS to negotiations on Nasdaq Primary and manage your fund allocations directly from the platform.

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 investment decisions and effortlessly track the impact of their sustainable investments.
: 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

Introducing 6 Values of Nasdaq Primary ->

Issuers, intermediaries, advisors, and Investors finally on one single platform ->

A much-needed virtual office for all debt market actors ->

How Nasdaq Primary is Setting Industry Standards Within Primary Debt Markets ->

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.

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.

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.

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.

Trade Talks

Interview with Onbrane Co-Founder & CEO

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.

Read the announcement

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Resources

: Nasdaq Primary Factsheet

Nasdaq Primary FAQ