The board of Placing Platform Limited (PPL) has announced that an update to the platform has gone live, containing significant enhancements to the facilities functionality, as well as a number of market requests for change.
The new release includes:
- An enhancement so the broker can now select multiple stamps for facilities. The underwriter response is identical to open market functionality, underwriters can select stamps and percentage split.
- A new link to enable users to quickly & easily toggle between the facility and the associated declarations.
- Placements can now be made with open market and facilities both constituting a percentage of the whole. Brokers can choose how much of a risk is facilitised and how much is open market. Within that, underwriters have options over stamps and line size.
Bronek Masojada, Chairman of the PPL Board said: “This release reflects the tremendous investment of time and energy that the market is making in evolving the platform to reflect what it wants and needs. These new capabilities for facilities are a perfect example of how market practitioners identify possible improvements for PPL and then the team delivers the solutions. It is part of our commitment to listening to the market and helping optimise the user experience.
“Guaranteeing the quality that the market expects and needs is of primary importance to everyone at PPL and the collaboration and participation of all the market firms, both brokers and underwriters, is vital to our ongoing success.”
PPL is a core component in the London Market Target Operating Model modernisation programme.