Two long-time Citigroup debt capital markets bankers, Oliver Corstjens and Stephan Gimpel, have completed the first round of seed fundraising for their workflow and analytics platform, BOND ORIGINATION TECHNOLOGIES. Co-founders Corstjens, who worked in syndicate, and Gimpel, who was an originator, want to address one of the biggest pain-points they faced in the interaction between syndicate and origination: delivering pricing data for issuer clients. For all frequent and infrequent issuers, banks send regular pricing updates, leaving bond desks engaged in what is in effect an arms race to provide as extensive an overview as possible to issuers. In a typical day, banks are producing thousands of pricing indications to these clients - all requiring formatting and the addition of other data points.
展开▼
