Symbology Efforts Back Tech Upgrades as CLOs' Demand Surges

Record issuance pushes standardization, investment as new buyers enter.

David Keys, US Bank.

As Waters noted in a past examination of levereaged loans and CLO technology, these specialized debt markets lag significantly behind their peers in terms of operational efficiency.

A combination of boom-and-bust cyclicality, legal complexity, and general lack of impetus in such a niche market means that trade settlement can take, on average, at least two weeks. Bigger, more bespoke deals will range into months — plural.

The industry is once again hitting the boom side of the cycle, though

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Systematic tools gain favor in fixed income

Automation is enabling systematic strategies in fixed income that were previously reserved for equities trading. The tech gap between the two may be closing, but differences remain.

Why recent failures are a catalyst for DLT’s success

Deutsche Bank’s Mathew Kathayanat and Jie Yi Lee argue that DLT's high-profile failures don't mean the technology is dead. Now that the hype has died down, the path is cleared for more measured decisions about DLT’s applications.

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