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Emerging standards

Excess Spread has been across the pond this week, digging into the US SRT market and the flourishing fund finance securitisation space, and meeting some luminaries of the asset-backed private credit business.

Here’s our writeup of the conference. The TLDR here, though, is that there really is a move to make this a more liquid and tradeable market, however reluctant longstanding issuers and investors that grew up with the European market might be.

There’s a well-established and valid argument that SRT transactions require amendments from time to time.