Operational efficiency will be built through the implementation and usage of loan identifiers, market participant identifiers and universal language: namely, CUSIPs, MEIs and FpML.

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Primary Delayed Compensation Protocol

The Protocol applies to a “Primary Allocation” which is an allocation of new money by a syndicate desk in connection with either (i) a new issue syndication or (ii) an amendment of an existing Credit Agreement.  In addition, the Protocol affects when-issued secondary trades by (i) changing what constitutes an Early Day Trade and (ii) […]

The LSTA Board Approves a New Primary Markets Delayed Compensation Protocol

On Tuesday, October 23rd, the LSTA Board adopted a primary delayed compensation protocol (the “Protocol”) that represents an important step in furthering the LSTA’s mission of promoting a fair, orderly, efficient and growing corporate loan market. The Protocol will go into effect on January 1, 2020 and will apply to all “primary” allocations i.e., allocations […]

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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.

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