Sales and Trading
We believe that a strong primary market requires an active secondary market. In fact, the limited liquidity in the secondary CDO/CLO market has already created problems with origination. Our ability to trade tranches individually adds a positive dimension to the overall market.
Our philosophy is transparency creates liquidity.
The CDO/CLO sales and research team provides pricing and analysis for current holders on individual tranches. The team also handles auctions for sellers and pricing analysis for buyers. The market is becoming more active as internal risk managers and corporate directors require market valuations for holdings. Banking and insurance regulators have also been requiring more market based pricing in a number of states.