NEW YORK, NY – (February 1, 2023) – Octaura, the electronic trading platform for syndicated loans, announced the successful execution of their initial syndicated loan trades. Backed by eight of the world’s leading financial institutions, the company has built an open market electronic trading solution offering leveraged loan market participants access to data and analytics, trading execution and booking on a single platform. Upon the success of the initial syndicated loan trades, the company will move forward with releasing its beta version for loan trading sessions prior to official launch.
“We created Octaura to improve participant efficiency, liquidity and transparency by modernizing the way syndicated loans are traded,” said Octaura CEO, Brian Bejile. “We’re proud to have created a comprehensive electronic trading solution increasing the accessibility and transparency essential to fostering digital trust between market participants.”
This announcement comes at a time of unprecedented growth in the syndicated loan market having reached $1.45 trillion but continues to remain a largely manual market. Octaura has reimagined the way the asset class is traded and created an accessible solution providing real time feedback and efficient execution, encouraging new investor participation, and driving liquidity to the loan markets.
The platform streamlines end-to-end workflow efficiencies offering investors Financial Information Exchange (FIX) connectivity, execution of live trades and automated trade bookings using Straight Through Processing (STP) capabilities. The company has successfully executed trades with 10 buy-side investors including funds advised by T. Rowe Price Associates, Inc., Invesco, Lord, Abbett and Co., Investcorp Credit Management and Steele Creek. Octaura will continue onboarding interested buy-side and sell-side participants and additional order management system providers hoping to get access to the platform prior to launch. For more information or to request a demo go to Octaura.com.
Buy-Side Participant Statements
Corey Geis, Head Trader and Portfolio Manager at Investcorp Credit Management US: “The platform provides the automation these markets have long needed and offers syndicated loan markets enhanced access to liquidity by automating a traditionally inefficient trading process. We believe Octaura will play a significant role in the growth of the leveraged finance markets.”
Jason Stofkoper, Leveraged Loans Trader at Lord, Abbett and Co. LLC: “Octaura offers real-time feedback and transparency that enhances the client trading experience, and the platform will ultimately improve market liquidity and impact the evolution of the syndicated loan market.”
Matt Stouffer, Head of Trading at Steele Creek Investment Management, LLC: “Octaura’s tackling the inefficiencies in the syndicated loan space with access to data, analytics, trading, and execution on a single platform. I believe the transparency and efficiency this platform offers will have a much-needed positive impact on the credit markets overall.”
Rebecca Willey, Senior Loan Trader at T. Rowe Price Associates, Inc.: “Increasing transparency and liquidity are important to the continuing growth of the syndicated loan market. Octaura’s electronic trading platform will improve the effectiveness and efficiency of our loan trading, and we believe its future enhancements will continue to modernize trading in the leveraged loan market.”
Sell-Side Participant Statements
Alex Naboicheck, Head of US Loan Trading at Bank of America: “Trading modernization in these asset classes is long overdue. The ability to access data and research, execute and book a trade on a single platform creates a more efficient and seamless trading process.”
Vikram Prasad, Global Head of Corporate Credit and Municipal Trading at Citi: “These initial trades are important strides towards resolving the inefficiencies in the syndicated loan markets and fostering the participation of new investors. The intuitive platform provides the key elements traders need to execute confidently and efficiently.”
Dan Ezra, Head of CLO and CMBS Trading at Credit Suisse: “We have taken the first steps in the electronification of the syndicated loan market, with the aim of increasing efficiency and transparency in the space. Over time we expect this to improve liquidity of the syndicated loans market, as the platform’s technology and access to data will allow for more confident trading execution, and ultimately reduce risks benefiting all participants.”
Uros Stosic, Head of Leveraged Loan Trading at Morgan Stanley: “We are thrilled to be a part of Octaura and celebrate the inaugural transactions on the platform. This marks an important milestone in pursuit of continued modernization in the market for syndicated loans. We look forward to continuing to work with Octaura and our clients in transforming the leveraged finance ecosystem.”
Octaura is an industry-led electronic trading, data, and analytics solution for syndicated loans. Founded as an independent company in 2022, Octaura represents a significant milestone in the advancement of modernizing the syndicated loan and structured credit markets through common operational criteria, automation across pre and post-trade life cycles, improved ease in transactions and advanced data and analytics. To learn more, visit Octaura.com.
Archie Group for Octaura