The story
Octaura is an industry-leading provider of electronic trading, data and analytics solutions for syndicated loans and collateralized loan obligations (CLOs).
The secondary leveraged loan and trading market has been run predominantly by manual processes. Most trading occurs via voice and chat, with manual trading booking and week-long settlement times.
Its goal was to create the first open-market electronic trading platform for syndicated loans. To reach this goal, we needed to build a solution to electronify the marketplace.
The Solution
Thanks to the flexibility of the platform and the collaborative work between Genesis and Octaura, we were able to deliver a highly successful solution to the market.
We adopted a collaborative iterative development cycle with short feedback loops, presenting to traders on a weekly basis and implementing their feedback promptly, ready for the next session.
The close collaboration between the consortium of bank traders and the Genesis team allowed us to quickly build a trading product that met and exceeded business expectations.
Project Highlights
Our client was able to leverage Genesis’ industry expertise, detailed planning, and seamless execution throughout.
Rapid prototype creation
By demonstrating how a new marketplace could look and function, Genesis galvanized momentum at two leading banks and allowed them to showcase the concept to potential dealers.
Complex trading rules handled with ease
Combining joint capital markets expertise, with the Genesis platform’s cross-asset class capabilities we could confidently manage trading rules for loans and the sophisticated product structure of CLOs.
An industry first
We succeeded in a market where few would, working effectively with a consortium of dealers to provide a unique and innovative solution addressing multiple complex data, product and workflow challenges.
The Benefits
Less risk, more transparency
The fully electronic marketplace has greatly improved the market by reducing risk, improving transparency and liquidity, and minimizing operational challenges for participants.
Simplified trading for all
Together we built multiple trading protocols to meet market needs. These include auction functionality, unsolicited RFQ and dealer axes.
Real-time data and analytics
Our solution provides insights that are critical for trading in volatile market conditions, instilling confidence in investors to price and execute. Straight-through pricing provides a pipe for trades to be brought directly.
SEE GENESIS IN ACTION
