The LSTA is the leading advocate for the leveraged loan market.
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.
Member benefits include:
- A full complement of documents and market practice standards for the primary and secondary markets.
- Exclusive loan market data and analysis.
- Conferences, seminars, teach-ins, and webcasts on issues and developments in the loan market.
- Participation in the promotion of the loan asset class to institutional investors in the U.S. and overseas.
Uniqueinsight into advocacy within the federal government to shape loan market guidance and regulation.
- Access to our trained mediators to help you resolve loan trade or other loan transaction related disputes
The LSTA fosters cooperation and coordination among all loan market participants, facilitates just and equitable market principles, and inspires the highest degree of confidence among investors in corporate loan assets. The tangible benefits include standardized documents, conferences and other events, market data and analysis, and networking opportunities.
LSTA members have the full support of the LSTA’s staff of experts. Whether a question about documents, market data, or an issue pertaining to current events, we are available to guide you through this ever-changing market.
MARKET ANALYSIS & DATA
- Daily Customized Analysis & Ad Hoc Presentations
- Shift Date Results
- Monthly Peer Group Performance Reports (Trade Data Partners Only)
- Monthly Secondary Market Performance Charts (NEW)
- Monthly Secondary Market Publication
- Quarterly Settlement Data Study Presentation
- Quarterly Trade Data Study Publication
- Quarterly Trade Data Study & Market Recap Presentation
LSTA members have unlimited access to an ever-expanding portfolio of copyrighted standardized documents:
- Forms of Credit Agreements
- Model Credit Agreement Provisions
- Secondary Trading documents
- Regulatory Guidance Series
- Legal analysis and regulatory issues
- LSTA governance and code of conduct
Members may also be eligible to receive discounts and courtesies from crucial vendors and third-party data sources
MARKET ADVISORIES AND WEEKLY LSTA NEWSLETTER
Ongoing commentary and guidance on regulatory, legal, and other market developments:
- Loan and financial market news and advisories
- Regulatory updates and analysis
- LSTA news and commentary
Full Members are organizations that underwrite loans or actively trade or invest in commercial loan instruments. Full members receive all LSTA information and standard documentation, including information relating to market practices and month-end prices on commercial loan instruments. Full members have full voting rights, are eligible for election to LSTA’s Board of Directors, have unlimited opportunity to participate in LSTA Committees and to interact with LSTA’s staff, and receive all materials, information and documentation (including daily, weekly, monthly and quarterly pricing composites on loans) that is prepared for LSTA members.
There are three levels within the Full Member class. All Full Members have the same rights and benefits, regardless of the Full Member category.
- Broker/Dealer/Underwriter (Sell Side)
- Institutional Investor (Buy Side)
- Broker/Dealer (Bank)
Associate Members are market participants that trade or invest in commercial loan instruments, but that are smaller and less active than Full Members. Associate members receive all standard documentation and most LSTA information. Associate Members do not receive certain materials (such as daily and weekly pricing composites on loans) that are distributed to Full Members. Associate Members may participate in committees and discuss marketplace issues with LSTA staff, and are invited to all LSTA open meetings and special events.
There are two levels within the Associate Member class.
- Institutional Investor
- Other (Bank)
Affiliate Members are firms that have a strong interest in the syndicated lending and commercial loan trading industry (such as advisors, law firms, accounting firms, vendors, rating agencies, data providers and consulting firms) but that do not themselves trade or invest in commercial loan instruments. Affiliate Members receive LSTA information and may attend open meetings and special events.
There are three levels within the Affiliate Member class.
- Law Firm
- Accounting Firm, Adviser, Consultant
Full Dealer and Full Other assessments will be based on their volumes as leveraged lead arrangers (as measured by Loan Pricing Corp’s League Tables), and their levels of secondary trading volume.
Full and Associate Institutional Investors will see an assessment based upon their primary allocations volume (as measured by Standard & Poor’s).
All members will be assessed a base amount. Some members will see additional assessments within given ranges.
Any Member may terminate its membership in the LSTA at any time by giving notice in writing to the Vice President of Membership. Members are not entitled to a refund or pro-ration of membership dues upon termination of membership. Any Member may be suspended or removed at any time for non-payment of dues or otherwise by the affirmative vote of two-thirds of the Directors present at any meeting of the Board.