Perpetual Corporate Trust secures Market License to digitally enable the wholesale term deposit market
Richard McCarthy
Perpetual Corporate Trust, a leading provider of fiduciary and digital solutions, has been granted a Market License in Australia, allowing it to operate a digital marketplace in a range of debt instruments starting with Wholesale term deposits.
The License will enable Perpetual Corporate Trust to work towards streamlining and modernising the execution of these instruments by offering market participants a fully electronic, self-directed execution SaaS platform. The digital platform will initially focus on facilitating Wholesale Term Deposits between Authorised Deposit-Taking Institutions and institutional, middle-market investors and wealth managers in Australia.
Perpetual Corporate Trust Chief Executive Richard McCarthy said: “The banking and financial services market is experiencing strong growth, with increasing demand for direct investment in secure, low-risk, income producing assets such as wholesale term deposits and fixed income.
“With limited digital trading options currently available, our platform brings greater efficiency, competition, and transparency to the market. The license will allow us to enable the wholesale term deposit market to operate more effectively, efficiently and economically, while managing cyber security and maintaining compliance.
“For over 30 years, Perpetual Corporate Trust has played a foundational role in Australia’s debt markets and managed funds industry and has $1.2 trillion of Funds under Administration[1].
“Through our focus on innovation, we have digitised and streamlined investor reporting, regulatory reporting, structured finance and fixed income markets by eliminating inefficiencies and enhancing accessibility for issuers, investors, and intermediaries.
“Our commitment to innovation is exemplified by our Fixed Income Intelligence product launched in 2024, a unique end-to-end platform that allows wholesale fixed income investors to purchase domestic and global fixed income securities in smaller parcels, opening the $114 trillion global market to a broader range of wholesale investors.”
Fixed Income Intelligence is an end-to-end SaaS solution for over-the-counter (OTC) domestic and global fixed income markets. The digital platform includes all the components needed to invest in OTC fixed income products including research and portfolio construction, trade execution and settlement, as well as middle office functionality and custody.
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