CLO sources welcome Citi-BofA platform but will it scale?

Sources in the CLO market have expressed doubt over the CLO trading platform known as Project Octopus launched last week by Citi and Bank of America, questioning whether the platform will succeed in expanding to a critical mass with enough other banks involved. However, some active in the nascent electronic trading market, such as KopenTech, welcome the venture as an endorsement of their vision.