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The LSTA and Loan Pricing Corporation Add Email Alerts to Mark-to-Market Pricing Service
NEW YORK, November 8, 2001 - The Loan Syndications and Trading Association (the LSTA) along with Loan Pricing Corporation (LPC) announced today the addition of a new feature of LSTA/LPC Mark-to-Market Pricing - Daily Mark-to-Market Alerts. LSTA/LPC Mark-to-Market Pricing provides bank loan investors and dealers with up-to-date secondary loan pricing; Daily Mark-to-Market Alerts highlight key secondary market activity.
"These Alerts provide the secondary loan market community with more timely information so that market participants can make better and timelier decisions," said Allison Taylor, Executive Director of the LSTA. "This new feature will help members make better informed trading decisions and make the market as a whole more predictable."
The Alerts focus on "Daily Big Movers" for three segments of the market:
1. loans marked above 98 or the "Par Market"
2. loans marked between 90 and 98 or the "Near Par Market"
3. loans marked below 90 or the "Stressed/Distressed Market"
In addition, every other week, LPC will send out Alerts that provide insight into secondary market activity for significant industry movers, recently originated loans, and high activity loans (those loans with prices that have changed most often).
Before the end of the year, LPC will be introducing wireless services to the market. This will enable the market to receive secondary market data and LPC's Gold Sheets Real-Time on a real-time basis in both the office and on the road.
"The combination of the Daily Mark-to-Market Alerts with LPC's Gold Sheets Real-Time news stories provides the secondary loan market with a real-time news, data and analytic solution," said Jeff Reichert, Senior Vice President of LPC. "This is a major step forward for the market and the feedback from our Beta group has been overwhelmingly positive."
About Loan Pricing Corporation
Loan Pricing Corporation (LPC), a Reuters Company, has provided financial institutions around the world with the most complete and accurate information on bank loans since 1985. LPC's reach on loan market news and information spans across the United States, Europe, Eastern Europe, Middle East, Africa, Latin America and Asia with market news delivered via publications, on-line news services, and databases. LPC has earned its position as the authoritative source of loan market information and analysis by its constant attention to the loan industry and development of state-of-the-art products and services for bankers, borrowers, and loan investors.
About The Loan Syndications and Trading Association
Founded in 1995, The Loan Syndications and Trading Association (the LSTA) is a not-for-profit trade association committed to the orderly development of a fair, efficient and professional trading market for commercial loans. The LSTA was formed in response to exponential growth in loan trading volume in the secondary debt market. The LSTA's mission has grown to include the full scope of issues relating to syndicated lending and loan trading. Leaders from throughout the industry comprise the bulk of LSTA's membership. Through the Association and its activities, the membership takes an active role in identifying and addressing key industry issues that ultimately lead to establishing standard market practices and procedures. For more information, visit www.lsta.org.
For more information contact:
Loan Pricing Corporation
Kevin Elphick
Tel: 212-833-9262
Email: kelphick@loanpricing.com
Loan Syndications and Trading Association Inc.
Allison A. Taylor
Tel: 212-404-7592
Email: ataylor@lsta.org
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