Expansion continues with first banks to join the platform since launch
New York, December 16, 2020 – DirectBooks™, the capital markets consortium founded to optimize global financing markets, today announced that Mizuho and Credit Suisse have joined the DirectBooks platform. Addressing inefficiencies in the marketplace across multiple communication channels, DirectBooks is simplifying the primary issuance process through the use of structured data and streamlined communications.
Mizuho strengthens the DirectBooks platform with its top ten USD Investment Grade position and further complements the consortium’s presence through its global strength in capital markets across the Americas, EMEA and Asia, including its number one ranking in Japanese Yen Bonds.
Credit Suisse brings to DirectBooks a world-class credit franchise with a leadership position in both Investment Grade and Leveraged Finance, spanning the US, European and Asian capital markets.
“I am excited to continue our network expansion with Mizuho and Credit Suisse as the first banks to join us since our launch,” said DirectBooks CEO, Rich Kerschner. “These major dealers are great additions to our platform, and we look forward to working with them as we expand our global footprint in 2021.”
“Mizuho is proud to join DirectBooks to help lead the evolution of capital markets by providing an innovative, technology-driven solution to our corporate and investment banking clients,” said Jerry Rizzieri, President & CEO, Mizuho Securities USA. “Capital markets origination has been a major growth driver for the industry and is core to how we support our clients, thus, this consortium represents a strategically important next step for the market.”
Rob Kay, Head of Americas Debt Syndicate at Credit Suisse said, “Direct Books represents a powerful and logical evolution in the primary market for fixed income. Credit Suisse looks forward to working with DirectBooks to modernize the new issue process through technology, thereby benefitting investors and issuers alike.”
The DirectBooks platform recently launched with deal announcement functionality for globally distributed U.S. Dollar Investment Grade issuances, offering a common set of structured deal data and document access for institutional investors. Orders and Allocations functionality will be added next, and the product set will continue to expand globally with Euro deals. Onboarding of additional dealers and institutional investors will continue to be phased in throughout 2021.
DirectBooks leverages its technology expertise and market knowledge to optimize global financing markets. DirectBooks improves the efficiency and accuracy of communications for underwriters, allowing institutional investors to focus on their investment process. DirectBooks was formed by 9 global banks, consisting of Bank of America (NYSE:BAC), Barclays (NYSE:BCS), BNP Paribas (FR:BNP), Citi (NYSE:C), Deutsche Bank (NYSE:DB), Goldman Sachs (NYSE:GS), J.P. Morgan (NYSE:JPM), Morgan Stanley (NYSE:MS), and Wells Fargo (NYSE:WFC). For additional information on DirectBooks, please visit www.DirectBooks.com.
About Mizuho Americas
Mizuho Americas is a leading financial institution comprising several legal entities, which together offer clients corporate and investment banking, financing, securities, treasury services, asset management, research and more. With professionals in offices throughout the US, Canada, Mexico, Brazil and Chile, Mizuho's operations in the Americas connect a broad client base of major corporations, financial institutions and public sector groups to local markets and a vast global network. Learn more at www.mizuhoamericas.com.
Mizuho Americas is an integral part of the Japan-based Mizuho Financial Group, Inc. (NYSE: MFG). Mizuho Financial Group is one of the largest financial institutions in the world, offering comprehensive financial and strategic services including private banking and venture capital through its subsidiaries. The group has over 900 offices and 60,000 employees worldwide in nearly 40 countries throughout the Americas, EMEA, and Asia. As of December 31, 2019, its total assets were $1.8 trillion. Learn more about Mizuho Financial Group at www.mizuho-fg.com.
About Credit Suisse
Credit Suisse is one of the world's leading financial services providers. Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 48,800 people. The registered shares (CSGN) of Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Chris Rodriguez, DirectBooks
Jim Gorman, Mizuho
Candice Sun, Credit Suisse