MUFG Union Bank (the Bank) has launched IPA Port, a new online platform that offers fully integrated issuing and paying agent services (IPA) for issuers of USD commercial paper and certificates of deposit. This easy to navigate platform delivers seamless processing for issuance, interest, and maturity payment activities using real- time data and transaction monitoring and reporting through a single online source.
IPA Port is supported by the Bank’s knowledgeable, dedicated client service and IPA development team, whose average of nearly 20 years industry experience positions them well to serve the program needs and requirements of commercial paper and certificates of deposit issuers. The team is headed by two industry veterans: Chris Buechner and Richard Benjamin. Mr. Buechner has more than 20 years of experience in the IPA marketplace and has served some of the largest issuers in the industry; Mr. Benjamin brings a strong background in IPA services with more than 12 years working with issuers of all sizes and types.
With IPA Port, the Bank’s clients can issue and manage their USD commercial paper and certificates of deposit programs using straight through processing from the receipt of the issuance through settlement with the Depository Trust Company (DTC). As a direct participant of the DTC, the central securities depository of the Depository Trust & Clearing Corporation (DTCC), MUFG Union Bank offers the following services:
- Links to all major dealers in the U.S. using the Pre-Issuance Messaging (PIM) network;
- High-performance standard and custom reporting functionality;
- Activity reports available in multiple formats: HTML, PDF, and DAT;
- High-level encryption that protects customer transactions behind three layers of security;
- Complete system administration and audit trails; and
- Controlled access to any function or program based on a specific
“This new IPA online platform and complete service offering are especially appealing to large corporations, financial institutions, public finance organizations, and government entities that issue USD commercial paper and CDs,” said Marianne Bamonte, Global Trust Services Division Manager, MUFG Union Bank. “Our client service and IPA development team, led by Chris and Richard, are excited to provide an IPA product and operations that are streamlined from start to finish with 24/7 access to account information. Our dedicated team is focused on delivering continuous client experience excellence and technical enhancements to remain best in class.”
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IPA Port is the integrated platform and product solution provided by the Bank’s Issuing & Paying Agent services team that is part of the Liquidity Agency Services solutions group offered by the Global Trust Services Division. Global Trust Services, along with Treasury Management and Trade Finance, comprise the Transaction Banking Division of MUFG Union Bank, which provides clients with working capital management, trade, and asset servicing solutions.
Additional information and more details on the IPA services are available at www.mufgamericas.com/ipa.
Certain products and services described in this document are provided by MUFG Union Bank, N.A., a member of the Mitsubishi UFJ Financial Group (MUFG), and are marketed under MUFG and Union Bank® brands. Online applications supporting these products are branded Union Bank. Other products and services mentioned may be offered and marketed by other MUFG entities.