LuxSE, Origin complete first fully digital listing by BIL

By Robin Amlot

The Luxembourg Stock Exchange (LuxSE) and London-based FinTech company Origin have completed the first fully digital listing of a debt security on LuxSE via Origin’s digital platform. The first bond issuance to be listed at LuxSE through the digital process of the Origin platform was a EUR 10 million senior note issuance by Banque Internationale à Luxembourg (BIL), issued and listed on LuxSE on Friday 26 February, 2021.

“This digital listing marks a milestone for our exchange and for our productive collaboration with Origin. We are convinced that digital workflows and streamlined processes will bring multiple benefits to issuers and other parties involved in a bond issuance. Digital solutions make capital markets more efficient and easier to navigate, and we are excited to be driving this change,” said Arnaud Delestienne, Director of International Capital Markets and Member of the Executive Committee at LuxSE.

Origin’s platform makes it possible for market players to generate, share and approve fully customisable term sheets and final terms. Once the final terms of a bond issuance are confirmed, the security can be listed on LuxSE via the Origin platform. The listing is made possible via an Application Programming Interface (API) developed by LuxSE that allows the documents and information created on Origin’s platform to be shared with the exchange without the need for the issuer to take any action apart from selecting LuxSE as listing option on the Origin platform.

“It is vitally important to us that the work we do, and the products we build ultimately add value to our clients and make their lives easier. That’s why we are so excited to have crystallised our collaboration with the Luxembourg Stock Exchange with this very first digitally listed transaction for BIL, and we hope this will be the first of many such transactions. Enabling digital listing is an important part of the roadmap towards building a truly digital capital market,” said Raja Palaniappan, CEO of Origin.

The listing using Origin’s platform follows on from LuxSE’s purchase of a 10% stake in Origin in December 2019