NEW YORK and CHICAGO, Oct. 20, 2015 /PRNewswire/ -- Ipreo, a leading global provider of market intelligence and productivity solutions to corporate and financial services professionals, and Cortland Capital Market Services, a global investment servicing firm, have announced the completion of a commercial partnership that combines Cortland's administrative agency services with Ipreo's new loan trade settlement platform, LTS. The combined offering, which includes integration of the firms' technology systems, is available now.
"We understood the potential of Ipreo's settlement plans early on," said Tim Houghton, Managing Director and Principal of Cortland. "And we promptly started a development project to incorporate LTS into our CorPro Agency system. We are excited to be the first agency services provider to offer reliable T+3 loan trade settlement to our customers."
Ipreo's LTS system combines settlement services and software with a pioneering advance that, for the first time, makes the practice of securities lending available for syndicated loans, enabling sellers to borrow syndicated loans to deliver on time to their buyers. The system includes online tools and support services for administrative agent banks that accelerate what has been a weeks-long settlement process.
Under the agreement, Cortland can act as the named Administrative Agent, or on a white-labeled basis as an appointee to the named agent. "Cortland has agented all types of loan deals, including deals in the $1B+ range that are the most actively traded," added Kevin Marcus, President and COO of Ipreo. "This partnership makes our T+3 settlement solution available to any lead lender or agent bank, for any deal that trades in the secondary market."
Ipreo is a leading global provider of financial services technology, data and analytics. We support all participants in the capital-raising process including banks, public and private companies, institutional and individual investors, as well as research, asset management and wealth management firms. Our unique, cross-asset class solutions equip our clients with the information and tools they need for more effective decision-making and a more efficient workflow. Ipreo has more than 900 employees serving clients in every major financial hub around the world.
About Cortland Group
Cortland is a leading global investment servicing company providing third-party and outsourced middle office services to investment managers and commercial lenders globally. Cortland administers over USD 75 billion for clients including credit, private equity and real estate funds, direct lenders, and CLO managers. Cortland is headquartered in Chicago and serves clients worldwide from Chicago, London, Los Angeles, and New York. For information about Cortland, please visit www.cortlandglobal.com.