CLO Trading Startup Is Now Allowing Investors to Cut Out Banks
- KopenTech now lets investors trade CLOs with one another
- Called DirectBidding, feature saw its first trade last week
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An online platform is now allowing money managers to trade collateralized loan obligations directly with one another, without banks standing in between.
KopenTech, a firm that provides CLO refinancing, data analytics, and electronic trading services, has launched direct trading among investors, according to a statement seen by Bloomberg. The platform saw its first trade between two investors last Thursday, Jill Scalisi, chief engagement officer, said in an interview.