Octaura Holdings announced the launch of Market Lists, a new protocol powered by data and analytics that streamlines the collateralized loan obligation (CLO) liquidation process for more efficiency throughout the trading lifecycle. Market Lists connects sellers directly to dealer and buyside communities to save time, reduce costly manual errors and create a more transparent market.

“We are keenly aware of the challenges that traders face when liquidating large loan portfolios and wanted to make sure we’re able to provide a more efficient approach rooted in data and analytics,” said Brian Bejile, Chief Executive Officer of Octaura. “Octaura developed Market Lists because we are fully committed to helping the leveraged loan trading industry solve these pain points and frustrations. We look forward to seeing this protocol enable a much more user-friendly experience.”

Some of the new processes that Octaura platform users will now be able to access via Market Lists include:

• Access to pre-trade insights, such as data and analytics to help users stage and prepare lists
• Efficient distribution capabilities, so sellers can send lists to dealers of choice and buyside clients
• Streamlined execution, enabling users to quickly monitor responses, compare data to internal targets and trade at the best level
• Automatic trade booking via connected Order Management Systems
• Greater transparency with buyside participants, who will be able to view live Market Lists and work with dealers to place bids

“The time-intensive process of running a loan BWIC and OWIC is in desperate need of change. This new protocol accelerates trading workflows while reducing human error and increasing transparency well beyond today’s manual processes,” said Howard Cohen, VP, Head of Sales. “Market Lists is another example of how Octaura is revolutionizing the industry by solving client challenges. We delivered on what our users asked for and we’re thrilled at the positive feedback and growth we’ve seen so far.”

Octaura launched its electronic loan trading solution in 2023 and has grown the platform quickly, from three dealers to 18 and from 34 buy-side firms to 117. As of July 31, 2024, 2.2% of the leveraged loan market traded on the Octaura platform. With plans to unveil additional services in early 2025, it has been continuously incorporating user feedback and rapidly releasing new functionality, such as the launch of List and RFQ (request for quote) protocols in late 2023.