We’ve been awarded ‘Best GBP Commercial Paper (CP) Dealer’ by CMDPortal

06 January 2021

Other news

View more news

We’re delighted to have been awarded Best GBP CP Dealer by CMDPortal. Our support for customers accessing the Covid Corporate Financing Facility (CCFF) was a significant factor in being awarded this accolade.

The award is given to an institution that is active in the Sterling money markets, in both the domestic, foreign and international segment through Sterling Euro-Commercial Paper (ECP) and Certificate of Deposit (CD) and is best at providing a full service to all types of issuers and investors. This year, specific attention was paid to the Corporate CCFF segment.

At the start of the COVID crisis, many of our corporate customers found themselves with a sudden and significant reduction in income. Our ECP desk, along with our coverage and legal teams and middle office functions quickly mobilised and worked tirelessly with customers, many of whom didn’t have existing ECP programmes, to advise and assist them on the Bank of England’s CCFF asset purchasing programme which would provide them with much needed liquidity in the challenging macroeconomic environment.

Jonathan Ragon-Paxton, who leads our ECP desk said, “We’re delighted to have been awarded Best GBP CP Dealer by CMDPortal in recognition of the support we provide to customers in both good and difficult markets. He added, ”Sitting within Primary Capital Markets, our unique cross-desk integration means we’re in constant dialogue with our colleagues in Capital Markets and across the Corporate Bank, which enables greater visibility of investors and issuer needs. We’re delighted our collaborative approach in supporting our customers has been recognised with this award.”

The Collaborative Market Data (CMD) Portal Awards credit the best performing Dealers, Issuers and Investors over the past 12 months. The winners are decided by a number of avenues including detailed feedback from industry participants, available data and league tables which play an integral role in assessing competitive strengths, an analysis of key deals and performance over the year with factors such as size, depth and growth of specific markets. 

For more information about the CMDPortal awards, please click here. 


  • Euro-Commercial Paper (ECP) refers to commercial paper issued by a company denominated in a currency that differs from the domestic currency of the market where the paper is issued.
  • ECP is used by international corporations to raise short-term financing to fund day-to-day operations, with notes maturing on the order of days or weeks.
  • Because borrowers prefer to secure financing with the smallest cost of borrowing possible, ECPs are an ideal source of capital for global institutional investors

A certificate of deposit (CD) is a money market instrument issued by a bank to raise funds from the secondary money market. It is issued for a specific period for a fixed amount of money with a fixed rate of interest.

This document has been prepared for information purposes only, does not constitute an analysis of all potentially material issues and is subject to change at any time without prior notice. NatWest Markets does not undertake to update you of such changes.  It is indicative only and is not binding. Other than as indicated, this document has been prepared on the basis of publicly available information believed to be reliable but no representation, warranty, undertaking or assurance of any kind, express or implied, is made as to the adequacy, accuracy, completeness or reasonableness of the information contained in this document, nor does NatWest Markets accept any obligation to any recipient to update or correct any information contained herein. Views expressed herein are not intended to be and should not be viewed as advice or as a personal recommendation. The views expressed herein may not be objective or independent of the interests of the authors or other NatWest Markets trading desks, who may be active participants in the markets, investments or strategies referred to in this document. NatWest Markets will not act and has not acted as your legal, tax, regulatory, accounting or investment adviser; nor does NatWest Markets owe any fiduciary duties to you in connection with this, and/or any related transaction and no reliance may be placed on NatWest Markets for investment advice or recommendations of any sort. You should make your own independent evaluation of the relevance and adequacy of the information contained in this document and any issues that are of concern to you.

This document does not constitute an offer to buy or sell, or a solicitation of an offer to buy or sell any investment, nor does it constitute an offer to provide any products or services that are capable of acceptance to form a contract. NatWest Markets and each of its respective affiliates accepts no liability whatsoever for any direct, indirect or consequential losses (in contract, tort or otherwise) arising from the use of this material or reliance on the information contained herein. However this shall not restrict, exclude or limit any duty or liability to any person under any applicable laws or regulations of any jurisdiction which may not be lawfully disclaimed.

NatWest Markets Plc. Incorporated and registered in Scotland No. 90312 with limited liability. Registered Office: 36 St Andrew Square, Edinburgh EH2 2YB. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. NatWest Markets N.V. is incorporated with limited liability in the Netherlands, authorised and regulated by De Nederlandsche Bank and the Autoriteit Financiële Markten. It has its seat at Amsterdam, the Netherlands, and is registered in the Commercial Register under number 33002587. Registered Office: Claude Debussylaan 94, Amsterdam, the Netherlands. Branch Reg No. in England BR001029. NatWest Markets Plc is, in certain jurisdictions, an authorised agent of NatWest Markets N.V. and NatWest Markets N.V. is, in certain jurisdictions, an authorised agent of NatWest Markets Plc. NatWest Markets Securities Japan Limited [Kanto Financial Bureau (Kin-sho) No. 202] is authorised and regulated by the Japan Financial Services Agency. Securities business in the United States is conducted through NatWest Markets Securities Inc., a FINRA registered broker-dealer (http://www.finra.org), a SIPC member (www.sipc.org) and a wholly owned indirect subsidiary of NatWest Markets Plc.

Copyright 2020 © NatWest Markets Plc. All rights reserved.