EDDI: harmonisation or fragmentation?

One of the main aims of the European Distribution of Debt Instruments Initiative (EDDI) is to achieve greater harmonisation across eurozone bond markets. But if there is no incentive to use it, EDDI will become just another platform.

  • By Burhan Khadbai
  • 24 Oct 2019

EDDI has been marketed as a one-stop shop for the euro bond market, handling everything from bookbuilding to settlement.

What EDDI aims to achieve in the settlement of bonds, by having central securities depositories distributing bonds via the European Central Bank’s Target–2 securities settlement infrastructure, is unequivocally innovative .

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All International Bonds

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 JPMorgan 370.70 1703 8.43%
2 Citi 338.00 1440 7.68%
3 Bank of America Merrill Lynch 290.28 1254 6.60%
4 Barclays 259.48 1092 5.90%
5 HSBC 216.86 1191 4.93%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 41.35 195 7.05%
2 Credit Agricole CIB 38.30 162 6.53%
3 JPMorgan 31.31 86 5.34%
4 UniCredit 27.27 145 4.65%
5 Bank of America Merrill Lynch 26.70 83 4.55%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 JPMorgan 11.53 77 9.42%
2 Morgan Stanley 11.15 54 9.11%
3 Goldman Sachs 10.36 56 8.47%
4 Citi 8.20 64 6.70%
5 Bank of America Merrill Lynch 5.64 31 4.61%