Capital Markets Gateway (CMG) has launched CMG XC, a primary end-to-end equity capital markets (ECM) platform that digitally connects the buy-side and sell-side.
The company said that XC aims to transform the fairness capital markets by offering linked infrastructure throughout industry members and streamlining the completely new problem lifecycle.
It noted that XC’s versatile structure enables organisation to leverage XC’s flexible architecture enables clients to leverage the platform to suit their needs without disrupting the critical multi-constituent interactions of the capital raising process.
The launch enabled profitable connectivity throughout main financial institutions such as Bank of America, Barclays, Citi, Credit score Suisse, Goldman Sachs, J.P. Morgan, and Morgan Stanley with asset managers including Constancy Investments, Franklin Templeton, Point72 Asset Administration, T. Rowe Price and Vanguard.
It also demonstrated the value of streamlined communication and workflows from a broad range of participants and underscored the efficiencies of leveraging a common platform to serve the mutual benefit of both underwriters and institutional investors, according to CMG.
“Over the past six months more than 100 institutional investment managers have migrated to the CMG XC network, representing over $20 trillion in investable capital.,” said CMG Co-Founder and CEO Greg Ingram.
He added, “The industry has tolerated analog communications and process redundancies for decades. That all changes with XC. After several years of development, we are heartened by the results of the launch, and are ready to transition to the next wave of buy and sell-side firms who can benefit from CMG’s platform.”
Mark Hantho, global chairman of technology and communications banking, capital markets and advisory, Citigroup, echoed these sentiments.
“The industry is long overdue for traditional methods of capital raising to make way for a more efficient and modern approach,” he said. “The launch of XC marks a major leap forward in ECM, offering a common digital platform to facilitate real-time connectivity between all constituents involved in equity offerings.”
The debut of the XC platform follows CMG’s December strategic capital raise that saw Bank of America and Credit Suisse join existing investors in supporting the development of a network to connect industry participants across initial public offerings (IPOs), follow-on offerings, and block sales.
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