Temasek- and SGX-backed Marketnode reveals bank partnerships

Marketnode is expected to launch its key product this year.

Marketnode, an SGX- and Temasek-backed digital venture, announced its partnerships with several banks ahead of its key product launch.

These include Barclays, BNP Paribas, BNY Mellon, Citi, Deutsche Bank, HSBC, Orient Securities International, Standard Chartered, Societe Generale, and UOB. The partnerships are expected to play a role in the rollout of an end-to-end DLT-enabled fixed income infrastructure. Functions of the partnership also include accelerating usage of its platform, provide market input towards its product development, co-create DLT solutions and jointly explore product expansion beyond fixed income. 

The platform is expected to launch in Q4 2021 and aims to provide users with solutions such as documentation streamlining, investor engagement tools, ESG reporting and market access mechanisms. This, in turn, would be powered by data analysis.

Lee Beng Hong, head of Fixed Income, Currencies, and Commodities (FICC), said that this initiative is the result of technological adoption in the financial industry.

“We continue to embrace the paradigm shift that the financial industry is undergoing with the emergence of new technologies. By collaborating with banking and technology partners, we are creating network effects and building scale and capability that can be applied cross-assets within a single platform, for the benefit of banks, issuers and investors. We welcome all market participants to join Marketnode in playing a role to accelerate the digital transformation of capital markets,” Lee said.

Previously, Marketnode announced partnerships with Covalent Capital and SETL.