On the Blotter: Market volatility set the tone in March

Market volatility set the tone for the month of March, with an uptick in price fluctuation. Mixed economic data coupled with headlines from the administration led clients to shed risk on the platform.  The volatility also highlighted the importance of quality data on trade execution in the loan market. Interesting trends emerged during the month as higher quality OLS (8-10+) credits underperformed in the down trade, while medium liquidity (4-7) outperformed.   

Loan market participants turned to Octaura in March to help manage workflows, contributing to a record-breaking month on the platform. 

• Record monthly trading volume, up 205% MoM and 1,122% YoY, with the list protocol standing out as the dominant protocol in March, accounting for 94% of trades  
• Records in single day trading volume of $635mm and number of trades, up 572% YoY 
• Single dealer (non-comp) list count has been steadily increasing since the start of 2025, up 15% MoM  
• Clients traded 17 Market Lists, totaling $4B in inquiry across 1,628 different loans 
• Market Lists continue to shine with 97.5% items priced and an average 4.7 responses per name with as many as 16 responses on more liquid names 
• March saw stronger sellers, capturing 58% of platform inquiry by count and 70% by notional; Q1 followed the same pattern, with 56% sellers by inquiry and 66% by notional
• Welcomed our 23rd and 24th dealers to the platform 

Do more on Octaura  

We're seeing clients utilize lists on Octaura for a variety of use-cases, including 

• Fund flows – Execute a long list of varying sizes quickly and efficiently 

• CLO ramps & liquidations – Execute many trades in a short period of time with price precision 

• Single Dealer lists – Share your list directly with a single dealer of your choice 

This marketing material is provided by Octaura for informational purposes only.  It is not intended as an offer or solicitation for the purchase or sale of any financial instrument. All investments involve risk, and past performance is not indicative of future results. The data contained on this page is provided for informational purposes only and is not intended to provide, and should not be relied on for, accounting, legal or tax advice or any general or specific investment recommendation.