Records are made to be broken, and according to LSTA’s 2Q25 Trade Data Study, they were once again. Second quarter secondary loan trading volume surged to a fresh record $262 billion, 3.4% higher than the first quarter’s previous high and an astonishing 26% above the same time last year.
Our speakers analyzed the secondary loan market, liquidity, and settlement times – with a concentration on the recent spike in volatility and the subsequent record levels of secondary volume. Then the conversation shifted over to settlement mechanics, as they examine credit agreement transfer provisions, primary allocation and secondary trade confirms, Standard Terms & Conditions and...
Our speakers analyzed the secondary loan market, liquidity, and settlement times – with a concentration on the recent spike in volatility and the subsequent record levels of secondary volume. Then the conversation shifted over to settlement mechanics, as they examine credit agreement transfer provisions, primary allocation and secondary trade confirms, Standard Terms & Conditions and...
LSTA's secondary loan trading volume totaled a staggering $82.2 billion in February, up 19% month-over-month and 20% over the LTM average of $68.5 billion. February marked the second busiest month ever in the secondary, following the record-setting $119.3 billion of March 2020 (the onset of COVID). Furthermore, February activity came in 3% higher than October...
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
During the second and final week of the LSTA’s 2024 Summer Series, the LSTA staff shared their own insights with our members on two key areas. On Monday, July 22nd, Elliot Ganz and Andrew Berlin presented a webinar, “Regulation and the Loan Market” during which they discussed the LSTA’s approach towards advocacy and policy. On...
This session will provide an overview on the secondary loan market, trading activity and settlement times. The session will then cover LSTA documentation provisions used by market participants to trade and settle loans, while examining the factors that drive loan settlement. Presented by LSTA colleagues - Theodore Basta, EVP of Market Analytics & Investor Strategy,...
