T. Rowe Price has gone live with Genesis global’s primary bond issuance (PBI) tool. It aims to standardise how its fixed income teams manage new corporate bond deals.
The tool seeks to consolidate deal messages from multiple syndicate and data providers into a single, real-time view, and to link these straight T. Rowe Price’s portfolio-modelling, order-management, and execution management system. It seeks to cut screen-hopping during fast bookbuilds in busy primary issuance periods like we just saw in September 2025.
T. Rowe Price says it oversees US$1.77 trillion in assets, including US$208 billion in fixed income as of 30 September 2025.
Dwayne Middleton, global head of fixed income trading at T. Rowe Price, said: “The new issue application, built to our specifications and delivered through the Genesis platform, enables a scalable and repeatable investment process in the primary bond market”.
Primary issuance was one of the bond traders’ and managers’ pain points discussed at FILS Amsterdam.
Rad more: “Vested interests” scupper primary markets electronification progresses
On top of aiming to link to the manager OMS, the Genesis system, purpose-built for T Rowe price seeks create a composite deal record that captures issuer, tranche, and security-level terms.
For this new deployment, Genesis and T. Rowe Price designed together an algorithm to merge multiple deal messages into one record and added roadshow tracking so the new tool aims to follows a deal from marketing through pricing.
The rollout initially covers investment-grade corporates and will be used by T. Rowe’s teams in Baltimore, Hong Kong, and London, with high yield and EM corporates to follow.
©Markets Media Europe 2025
