Ethics for pleasure and profit
Those unassuming folk who work on the commercial paper desk of many banks are quietly tearing up the rule book about how debt securities are sold. An often neglected corner of the debt capital markets, Euro-CP is proving a breeding ground for ideas that challenge the entire business model that has long been used for selling bonds.
There is nothing inevitable about the current practice, in which the sales teams of a dozen different banks bombard investors with telephone calls proposing deals.
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