Founded: 2021

Products: A money market platform, with real-time settlement and enhanced analytics.

Overview: Ubermorgen is an automated money market platform that enables companies to straight-through process (STP) their CP/CD issuance and distribution, with flexible settlement. It was created in 2021 with the aim to revolutionise money market primary transactions using conventional central securities depositories (CSDs).

The goal is to enable all parties to operate on T+0 (ideally T+30 minutes), T+1, or on an existing T+2 basis. This is achieved by applying a distributed ledger/blockchain hybrid approach, keeping existing legal documentation (e.g. Commercial Paper (CP) programmes) and settlement processes intact. It also enables all parties to retain their existing connectivity, issuing and paying agents, CSDs and custodians. This should maximise the network effect because core security creation (along with securities legal definition) and settlement processes stay the same.

The vendor says the core benefits of the platform are achieved through automation and process optimisation around security creation, trade confirmations, and settlement tracking –  enabling all parties to operate in an STP manner.

In addition, the platform offers deep-dive analytics on money market activities and trends. This is accomplished via a combination of Europe-wide market data, in-built dashboards and ML/GenAI capabilities. This offers users their own tailored view of the market.

All money market participants can access the platform, it being rolled out on a redistribution basis with all customers of dealers having access to it.

Clients: Public customers: Rabobank, Treasury Spring

Revenue: Not disclosed

Active region(s): Europe

Partners: Rabobank

Employees: <10

Funding: Private

Ownership: Most of the equity (>80%) belongs to the Founders

Unique selling points:

• CP and Certificates of Deposits (CD) T+0 Issuances and Distribution, with ability to create and settle CP and CD on the same day in contrast to T+2 or T+1.
• ML/GenAI capabilities to analyse money markets using Europe-wide market data

Website: www.ubermorgen.co.uk

Email: [email protected]

Phone: +44 (0) 207 046 6597

TMI view: STP, flexible settlement, and analytics boosted by ML/GenAI capabilities should make this an interesting proposition for money market participants.

Verdict: Operational efficiency, deep market insight, and settlement flexibility come to the money market world.