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Octaura to launch electronic trading platform for leveraged finance and structured credit

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Citi and Bank of America, joined by Credit Suisse, Goldman Sachs, JP Morgan, Morgan Stanley, Wells Fargo, and Moody’s Analytics, have launched Octaura Holdings (Octaura), an independent company whose goal is to create the first open market electronic trading platform for syndicated loans and collateralised loan obligations (CLOs).

Built in collaboration with Genesis Global, the low-code software development platform for financial markets, Octaura aims to provide comprehensive trading solutions with natively integrated data and analytics. The Octaura venue for loans will launch first, with the CLO trading venue to follow. The company then plans to expand to other products in the credit market.

Octaura began as a joint incubation and co-development initiative between Bank of America and Citi, within its SPRINT (Spread Products Investment Technologies) team. Citi’s internal Velocity CLO eBidding platform and BofA’s Instinct Loan Match platform improved efficiency, liquidity and transparency for users and were the inspiration for Octaura. 

Industry veteran Brian Bejile has been named Chief Executive Officer and a member of the Board of Directors of Octaura.

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