Banks Launch Octaura Electronic Trading Platform

Citi, Bank of America, Credit Suisse, Goldman Sachs, JP Morgan, Morgan Stanley, Wells Fargo and Moody’s Analytics have launched an open market electronic trading platform according to a story in The Trade news. The platform is for syndicated loans and collateralized loan obligations (CLOs), launching with the former originally with plans to add CLOs and credit products later down the line. It will offer straight through processing (STP) for trade booking and data and analytics provided by Moody’s. The launch comes at a time of ongoing growth in the CLO and syndicated loans market, the institutions said, doubling in the last 10 years to $1 trillion and $1.4 trillion in outstanding notionals.