Secondary loan trading volume declined 18% in 2Q 2026, as volatility subsided. Download the latest trade data study.
Secondary loan trading volume hit a record in 1Q 2026, LTM volumes now exceeding $1 trillion.  Download the latest trade data study.
In our most recent trade data study, our EVP of market analytics discusses the factors influencing record trading volume for fourth quarter 2025.
LSTA presents the results of the second quarter Secondary Trading & Settlement Study.
The LSTA presents the results of the first quarter Secondary Trading & Settlement Study.
According the LSTA’s Ted Basta, 2024 annual secondary loan trading volume soared 15% to a near record $821.4 billion, the largest year-over-year increase in a decade. 2023 though, was an off-year as volumes fell 13% to a six-year low of $715 billion. Even still, 2024’s $821 billion in activity came in just $3 billion short
The LSTA presents the results of the fourth quarter Secondary Trading & Settlement Study.

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