New Platform Backed by Fidelity, Goldman Seeks to Bring IPO Market Into Digital World

A new technology platform backed by the biggest U.S. banks and money managers is aiming to bring the IPO market into the 21st century.

The syndicate desk—a longtime fixture at banks across Wall Street where IPOs and other large stock sales are priced and allocated to investors—has long clung to traditional ways of doing business like phone orders and scribbled pieces of paper, even as other businesses go digital.