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Corporations looking to finance short-term debt or to raise capital through the issuance of money market instruments (MMI) must contract with Issuing Paying Agents (IPAs) to facilitate these issuances for them. The issuance process is extremely manual and tedious: IPAs are required to submit, track, and perform issuance and corporate actions manually on multiple systems and functions at DTC. This time-consuming procedure is error prone, inefficient, and heavily reliant on spreadsheets.
Broadridge’s Fixed Income Processing Engine, impactSM, assists firms acting in an IPA capacity by providing functionality for the issuance of Commercial Paper and Certificate of Deposits at DTC. By utilizing the MMI issuance solution in impact, users with an IPA business can leverage an automated workflow to issue, action, record and reconcile their contracted obligations for new money market issuances.
For additional information, please contact your Broadridge Account Manager.
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