LSTA Revenue and Competitors

The LSTA was formed largely in response to the exponential growth in loan trading volume in the secondary debt market. In an effort to develop standard settlement & operational procedures, market practices, and other mechanisms to more efficiently trade the increasing volume of par & distressed bank debt, a small group of debt traders from major international financial institutions pooled their resources to form the Association in late 1995. In the ensuing years, the LSTA has become the principal advocate for the commercial loan asset class with the goal of promoting greater confidence for all market participants. LSTA membership provides member firms with the opportunity to participate in the decision-making process that ultimately establishes market practices, develops standard documentation and strengthens and influences the direction of industry infrastructure. The LSTA currently has over 192 members, including broker-dealers, commercial banks, investment banks, mutual funds, merchant banks and other major financial organizations worldwide. Membership is also open to other institutions that are not market participants, but have a general interest in the syndicated lending and loan trading markets and include law firms, brokers, consultants and advisors.