| Wall Street's Leading Securities Firms Lauch "SyndicateHub" | |||
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New Internet Hub from SecuritiesHub LLC Provides Co-Mingled New Issue Bond Information New York, February 15, 2001 - Six of Wall Street's leading securities firms - Goldman Sachs (NYSE: GS), J.P. Morgan Chase (NYSE: JPM), Lehman Brothers (NYSE: LEH), Merrill Lynch (NYSE: MER), Morgan Stanley Dean Witter (NYSE: MWD) and Salomon Smith Barney (NYSE: C) - and Communicator Inc. today launched "SyndicateHub," a multi-dealer Internet hub for institutional investors to access the latest basic information on new issue bond offerings. SyndicateHub is a service of SecuritiesHub LLC, which is majority owned by the six dealers. Communicator Inc. operates SyndicateHub and the highly successful Bond.Hub service for SecuritiesHub LLC, using its proprietary Thin Consortium Technology (TCT), which is designed to build stronger direct relationships between leading suppliers and their core customers. These services currently link the dealers to over 8,000 institutional fixed income investors and money managers. SyndicateHub creates a new Internet information distribution service associated with the issuance of fixed income securities. It links investors and dealers, providing real-time information related to the fixed income new issue process. SyndicateHub includes direct links to each dealer's e-syndicate site, plus a master co-mingled calendar, market update, a summary of recent pricings and other new issue information, and a robust search engine. The service will initially include US SEC-registered corporates, sovereigns and exempt issues, with additional asset classes to be added in the future. Links to the dealers' e-syndicate sites may additionally provide access to: · listed offerings from that dealer · red herrings and prospectuses · electronic road shows · facilities to submit indications of interest. In addition to the services offered by SyndicateHub, customers permissioned for Bond.Hub, a service of SecuritiesHub LLC, have access to co-mingled research, market commentary, and pricing information from more than 500 analysts and traders at the six participating firms. "We are excited that Wall Street's major dealers have once again employed Communicator Inc.'s Thin Consortium Technology to create a hub for the dealers' e-syndicate sites," said Leo Schlinkert, CEO of Communicator Inc., which operates Bond.Hub and SyndicateHub. "We are finding that industry leaders who are involved in consortiums are increasingly looking for a solution that highlights their individual strengths while avoiding the implementation hurdles and high costs of a traditional thick consortium." John Casaudoumecq, Head of Fixed Income E-Commerce at Salomon Smith Barney, said: "Bond.Hub taught us a great deal about what investors want from an online portal, most notably the importance of simplified access to a vast amount of market information. That was quite useful in developing SyndicateHub into a tool that truly improves the syndication process for all parties involved." Mark Seigel, Managing Director, Head of New Issue E-Commerce at Morgan Stanley Dean Witter, added: "SyndicateHub is a targeted response to investor demand for a global new issue platform that provides real-time co-mingled primary market information. Importantly, it uses single sign-on and authentication technology." Michael Packer, Merrill Lynch's head of institutional e-commerce: "SyndicateHub provides an additional channel through which Merrill Lynch institutional clients can access our award-winning new issue platform, and also other offerings available on MLX, Merrill Lynch's e-commerce portal for institutional clients worldwide." James Merli, Managing Director, Global Fixed Income Syndicate, at Lehman Brothers: "We see SyndicateHub as an important contributor to our efforts to get information quickly and easily to our clients." Nick Rohatyn, Managing Director and Co-head of LabMorgan, the e-finance unit at J.P. Morgan Chase: "The launch of SyndicateHub gives our clients more convenient access to capital markets offerings from leading firms and better information about those markets and the specific products." Victor Simone Jr., Managing Director, Fixed Income E-Commerce, at Goldman Sachs: "New debt issuers have been seeking a centralized and efficient venue to reach the broadest range of institutional customers. SyndicateHub is designed exactly to meet their needs as well as those of the dealers and the end-users."
About Goldman Sachs (NYSE: GS) (www.gs.com):
Goldman Sachs is a leading global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The Firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world. About J.P. Morgan Chase & Co. (NYSE: JPM) (www.jpmorganchase.com): J.P. Morgan Chase & Co. (NYSE: JPM, www.jpmorganchase.com) is a premier global financial services firm with assets in excess of $705 billion and operations in over 60 countries. The firm is a leader in investment banking, asset management, private equity, consumer banking, private banking, e-finance, and custody and processing services. Headquartered in New York, J.P. Morgan Chase serves 32 million consumer customers and over 5,000 corporate, institutional, and government clients. About Lehman Brothers (NYSE: LEH) (www.lehman.com): Lehman Brothers is a leading global investment bank with leadership positions in corporate finance, advisory services, private equity, municipal finance and fixed income and equity sales, trading and research. Lehman Brothers serves the financial needs of corporate, government and institutional clients, and high-net-worth individuals through offices in major financial centers worldwide. About Merrill Lynch (NYSE: MER) (www.ml.com): Merrill Lynch is one of the world's leading financial management and advisory companies with offices in 44 countries and total client assets of about $1.7 trillion. As an investment bank, it is the top global underwriter and market maker of debt and equity securities and a leading strategic advisor to corporations, governments, institutions and individuals worldwide. Through Merrill Lynch Investment Managers, the company is one of the world's largest managers of financial assets. For more information on Merrill Lynch, go to www.ml.com. About Morgan Stanley Dean Witter (NYSE: MWD) (www.msdw.com): Morgan Stanley Dean Witter & Co. is a preeminent global financial services company and a market leader in securities, asset management, and credit services. The company's top-ranked research, along with world class product origination, asset management and other extensive resources create a unique combination of capabilities that provide both individual and institutional clients with access to the most comprehensive array of high quality products and services in the financial services industry today. The Company has more than 600 offices in 27 countries around the world. About Salomon Smith Barney (subsidiary of Citigroup; NYSE: C) (www.citigroup.com): Citigroup's Global Corporate and Investment Bank brings together the world's most global corporate bank, Citibank, with a leading global investment bank, Salomon Smith Barney, to provide complete financial solutions to corporations, governments, institutions and individuals in more than 100 countries. Award-winning businesses include corporate and investment banking services, investment advice, financial planning and commercial insurance products. About SecuritiesHub LLC: SecuritiesHub LLC is a B2B e-commerce company formed by six top Wall Street firms and Communicator Inc. to create online hubs, which link the dealers with institutional investors around the globe. SecuritiesHub highlights each of the dealers' brand, content and customer relationships through Communicator's proprietary Thin Consortium Technology (TCT). SecuritiesHub products include the highly successful "Bond.Hub," which was launched in December 1999, and "SyndicateHub," launched in February 2001. More than 8,000 institutional investors from more 60 countries currently use the Bond.Hub service, along with more than 5,000 investors already registered for the launch of SyndicateHub, making SecuritiesHub the fastest-growing consortium in the Securities Industry. More than 500 analysts and traders contribute daily to the service, which co-mingles bond market prices, data, news and research from the participating dealers. SyndicateHub is the leading multi-dealer Internet hub for institutional investors accessing information on new issue bond offerings. Goldman Sachs, J.P. Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley Dean Witter and Salomon Smith Barney own a majority interest in the venture. Communicator Inc. provides the technology and infrastructure and operates the business, owning a minority interest. About Communicator Inc (www.communicatorinc.com): Communicator Inc. designed, built and operates both Bond.Hub and SyndicateHub for six leading Wall Street firms. Communicator's Thin Consortium Technology (TCT) was developed for industry leaders looking for an alternative to emerging e-commerce efforts that dis-intermediated them from their clients and created a new competitor. The TCT solution is proven and designed to be inexpensive and fast to market, unlike the traditional heavy consortium model. Communicator gives market leaders unmatched control and security of confidential information, customer relationships and branding, while aggregating content with other supplier information. The objective of the Communicator TCT solution is to build stronger direct relationships between leading suppliers and their core customers. Communicator's focus on the information surrounding the sales process -- not the transaction - has created an environment that promotes a more valuable relationship for both the salesperson and the customer. As a result, leaders in vertical industries are viewing Communicator's TCT model as an alternative to turning joint e-commerce ventures over to third parties or forming a "thick" consortium laden with bureaucracy. |
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