Banks question the need for EDDI in ECB consultation
Investment banks have voiced their criticisms of the European Distribution of Debt Instruments (EDDI) project, saying that the private sector already has solutions to the primary bond market’s problems, according to responses to the European Central Bank’s (ECB) market consultation seen by GlobalCapital.
“With regards to the pre-trade process, we see that harmonisation is currently occurring in the market via a number of private initiatives, making the need for EDDI less critical,” said BNP Paribas, but added that “all initiatives should be explored alongside EDDI”.The bank also said that “it is ...
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