Separately, the LSTA plans to publish its annual Trade Data Study on a quarterly basis to meet buyside demand for more frequent trading data. The association also plans to add a new feature to the study that will look at loan settlement times to evaluate whether it is taking more or less time to settle loans. The association has set a goal for par loans to be settled within 7 days and distressed loans to be settled within 20 days.
Since 2002, the association has published a trade data study annually. The publication seeks to show the difference between a loan's indicative price and where it actually trades. The purpose of the study is to evaluate whether the mark-to-market process over or undervalues loan prices, compared to where they trade at.