What US-MTNS does

For issuers

Bringing notes to the US market means assembling a distribution network you cannot see into. Demand reaches you through dealers, each showing you their own slice. Orders arrive by chat and phone. And the league tables that say how you did are counting things nobody agrees on.

• A league table that counts MTNs, and only MTNs. Every note that prices, tallied once — fixed income only, with no equity-linked structured product inflating anybody's standing. By year, by geography, and as of any date you pick, so you can see where you were at the half rather than only where you finished.
• Bolt into the market without building a syndicate desk. Launch and distribute deals yourself, or hand the book to a bookrunner — and either way see which distributors are really buying your bonds, rather than which ones say they are.
• Offer new issues on the electronic venues — Tradeweb, BondPoint and Bloomberg — directly, or have your bookrunner do it for you. The visibility is the same either way.
• Orders in one place, entered by the people placing them. Distributors enter their own orders against your deal instead of sending them down a Bloomberg chat or reading them out over the phone, and you approve them into trades.

For bookrunners

Running books for other people's issuers means keeping every deal, every distributor and every venue straight at once — usually across a desk's worth of spreadsheets and chat windows.

• Run every issuer's book from one desk. Set a deal up on an issuer's behalf — or several at once — and pre-fill the terms straight from the preliminary document rather than re-keying them.
• Move prices across the whole book at once, including out to the venues, instead of deal by deal.
• Stream to venues for the issuers you run, and bring the orders that come back into the same book as everything else.
• Show your issuers what you did — dealer rankings and per-distributor detail, exportable.

For distributors

Your salesforce cannot sell what it cannot see, and the new-issue calendar reaches them as a stack of chats. Meanwhile placing an order means getting hold of the right person at the bookrunner.

• Choose which MTNs your salesforce sees. Not the whole market — the paper you actually want shown.
• Build a menu that fits your accounts, priced the way you price to them, and control which accounts see it.
• Place orders on live deals yourself, off the current reoffer, without a phone call — and see them through to approval.
• Work the book that comes back from your accounts in one blotter, with a read-only sheet of the firm's live offerings for the desk to quote from.

For end investors

You see the new-issue market through whichever broker-dealers happen to call you, one axe at a time, with no way to tell what else printed that week.

• See what each of your broker-dealers is offering you. Associate with one firm or several; each shelf stays that firm's, so you deal with each of them the way you already do.
• Get a holistic view of the whole US MTN market — every new issue as it is filed or priced, not just the ones somebody chose to show you. Filter by structure, issuer, size and date.
• Bookmark the bonds you are working on and come back to them.

For developers — take the market into your own application

We hold the offering documents and read them, so your application does not have to hold them, parse them, or chase them. Two read-only HTTP/JSON APIs, and one bearer token between them.

• Bond structures (/api/structures) — a normalised structure by CUSIP: coupon shape, call schedule, dates, conventions, issuer, and the source record it was read from.
• Offering documents (/api/docs) — the document itself by CUSIP, as a PDF. One CUSIP-stable URL serves the preliminary while the deal is in the market and the final once it prices, and tells you which of the two you got.

Discovery is public: read /api/schema for the full contract — every endpoint, every error code — before asking anyone for a credential.