Origin releases upgraded fixed income data standard Airbrush v3.0, further refining existing parameters and increasing product coverage
Origin Markets, the London-based fintech digitising debt capital markets, has released the latest version of its data standard, Airbrush v3.0, increasing the scope of instruments which can be described by the specification. Airbrush has grown to now cover the issuance data requirements for all common coupon types issued off MTN and CD programmes.
Specific key changes include:
Change of interest basis is codified to now support Fixed-to-Floating rate notes
Now supporting instruments with redemption in shares including Equity & Index-linked notes
Enumerations now follow existing standards more closely (e.g. governing laws are now ISO-compliant)
The new version was developed in close consultation with industry partners in the Post-Trade ecosystem. Origin thanks its customers and partners for their continuing support with this initiative.
Raja Palaniappan, CEO and co-founder of Origin, said: "We are delighted to be able to release this updated version of the Airbrush specification. We see increasing traction with market participants interested in exploring bond issuance data and process efficiency, and expect the live projects based on Airbrush which we’re working on now to catalyse the next leg of its broader adoption.”
About Origin
As a pioneer of digital debt capital markets, Origin sits at the intersection of fixed-income market participants – from dealers to issuers and paying agents – providing a unique insight into the data needs of different players used to inform integrated, efficient solutions. Origin offers three products that work together to automate debt issuance: Origin Marketplace, Documentation and Post-Trade modules. The company now has over 90 issuers and 20 dealers as clients, including some of the largest participants in the international capital markets. Origin’s ambition is to establish a digital, end-to-end, straight-through-processing issuance platform for international fixed-income capital markets.
About Airbrush
With no universal standard for bond issuance, the same data points are created several times in multiple systems, with different names, formats and validation, meaning market participants must translate data as it is passed from platform to platform, creating inefficiency and increased risk of error.
Airbrush determines the minimum set of data required for the processing of fixed income issuance, by consolidating the data requirements across post-trade market participants. Using the Airbrush standard removes the need for multiple costly and error prone bilateral interfaces. Market participants do not need to change internal systems, such as platform IT or data models, and technology providers can utilise their own markup languages. Airbrush ensures that when communicating with one another, systems will send and receive the necessary set of parameters in a consistent format.
The data is aligned with the needs of downstream market participants, and curated and reported by Origin in an accessible and consumable format. The data standard is published using the OpenAPI specification, accessible at https://originmarkets.com/airbrush. The specification is implemented into the Origin platform's Transactions API, enabling clients to pull their post-trade transaction data effective immediately.
Media contacts:
Origin
Katie Orr
Phone: +44 020 8050 9928
katie.orr@boldspace.com
