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

Electronic trading_adobe_575x375
By Paola Aurisicchio
22 Apr 2021

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.

Project Octopus is the unofficial internal name for Bank of America and Citi’s next generation trading, data and analytics platform that will focus initially on CLOs and syndicated loans, with plans to expand into other asset classes.

The two banks are building the online trading platform with the intent ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial