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GE Capital Commercial Paper Unveils State-of-the-Art Electronic Trading System

STAMFORD, Conn., Nov. 25 /PRNewswire/ -- GE Capital, the largest issuer of commercial paper in the U.S., today unveiled a state-of-the-art electronic trading system that allows institutional investors to purchase GE Capital commercial paper directly from their Bloomberg terminals. GE Capital's system is the first fully-integrated "direct to the issuer" electronic commercial paper trading system.

"As the most widely purchased commercial paper in the market, GE Capital completes 3000-4000 transactions each week with a diverse group of institutional investors," said Mark Barber, vice president and assistant treasurer.

"These investors are increasingly drawn to the speed, efficiency and convenience of electronic trading, and GE Capital has responded with a system that delivers on all three. It's hard to imagine a more streamlined process for the investor -- there's no intermediary to trade through, no telephone call to make and no trade ticket to write. Once an investor inputs an order, it goes directly from the Bloomberg system into GE Capital's computer system. With most other trading systems, orders must be approved, printed off the screen and manually "re-keyed," increasing the possibility of errors and delays," Barber added.

Initially, GE Capital will be introducing its electronic trading system to a group of investors who have expressed interest in participating immediately. However, any institutional investor with a Bloomberg terminal is eligible and should contact GE Capital to begin the enabling process.

GE Capital is the largest commercial paper issuer in the nation with more than $50 billion outstanding among three programs. It markets the commercial paper programs of GE Capital, GE Capital Services and GE, all of which carry the highest possible rating from Moody's (P-1) and Standard & Poor's (A1+). The commercial paper proceeds are used to fund the on-going activities of the three issuers. The paper is continuously offered directly to institutional investors, and marketed by GE Capital's in-house sales team. Rates are displayed on Bloomberg, Telerate, Knight-Ridder and Reuters under the symbol "GECC."

GE Capital Services, with assets of over $185 billion, is a global, diversified financial services company with 26 specialized businesses. A wholly owned subsidiary of General Electric Company (NYSE: GE), GE Capital Services, based in Stamford, provides equipment management, mid-market and specialized financing, specialty insurance and a variety of consumer services, such as car leasing, home mortgages and credit cards to businesses and individuals around the world. GE is a diversified manufacturing, technology and services company with operations around the world. SOURCE GE Capital
 -0- 11/25/96


/CONTACT: Mary Horne of GE Capital Services, 203-357-6978/

(GE)

CO: GE Capital; General Electric Company; GE Capital Services ST: Connecticut IN: PAP CPR SU: PDT

KS -- NYM042 -- 3520 11/25/96 09:03 EST http://www.prnewswire.com
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Publication:PR Newswire
Date:Nov 25, 1996
Words:447
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