Origin Markets has teamed up with six investment banks and 20 borrowers to simplify the way money is raised in the private placement market for medium-term bonds. The platform is designed to allow multiple dealers and issuers to monitor the market and track their inquiries and trades in one centralized place. Congrats to Raja on the exciting news!
That was when Origin started in early 2015. Raja Palaniappan, the company’s chief executive and co-founder, told FN that Origin ran into hurdles by the end of 2015. He, together with co-founder and chief technology officer Robert Taylor, came to understand that the direct approach wouldn’t work in the bond market. Without the capital to underwrite bond issuance, Palaniappan, himself a former corporate bond and derivatives trader in London, realised that Origin could work with dealer banks. One incentive for the dealers is the opportunity to kindle relationships with new clients via the platform. Another is to help banks to run their private placement activities in a cost-efficient way.