Benchmark prior transactions, bonds, loans or company profiles using over 300 credit metrics.

Comparables

AI transcripts & instant analysis, making earnings season easier than ever.

Earnings

A full suite of ESG data and analysis. Built for your workflow

Spot undervalued credits and potential future restructurings with our purpose-built tools.

Distressed and Restructuring

We use AI to aggregate newsflow from 2,000 sources, and deliver it to your inbox quicker than anyone else.

News

Full Financial profiles with 3 statements, KPIs, segment splits & credit metrics. All traced to source documents.

Financials

New deal analysis and covenant comparison tools, understand key risks in seconds not days.

Covenants

We've successfully predicted more than 65 price sensitive events - before they happened.

Deal predictions

Say goodbye to CTRL + F with our powerful search. Thousands of documents text searchable for any keyword or phrase.

Search

Track high yield deals from issuance through to maturity, with integrated legal, credit and ESG analysis.

High Yield Bonds

Shine a light on private markets with 9fin's news and legal analysis of syndicated loans

Leveraged Loans

21st century tech and expert analysis to help CLO teams make informed decisions faster.

Structured Credit 

Find information others can't see in one of the fastest growing corners of finance

Private Credit 

Dan Alderson

StoneX is preparing to launch a trading venue it hopes will transform the loan market by creating greater liquidity and pricing transparency, while preserving the anonymity of institutional client counterparties.

StoneX LoanMatch, which is due to go live in September, will allow clients to participate in open matching sessions in which they can enter buy/sell orders at a specified mid-price set by StoneX. Dark pool technology will allow them to do this without revealing their identity, the direction of their trade, or their order size.

StoneX is responding to what it sees as a gap in liquidity for the loan asset class, which has grown rapidly over the past decade but not been matched by dealer capacity to make markets. It will facilitate client-to-client trading, which it says will enable lenders to more proactively manage their portfolios.

Senior StoneX personnel overseeing the project include Robert Lepone, head of EMEA loans and claims, as well as Geoffrey Drayson and Robert Dziedziech, co-heads of European credit.

At the outset, StoneX plans on hosting two sessions a day, each of 30 minutes, at 10am and 3pm London time. The initial focus is on European credits, with a view to expand the service later into areas such as BWICs/OWICs, large private credit trades, and the US loan market.

Trades will be executed with a pre-agreed transaction cost, which StoneX says will provide clear and transparent pricing for all participants. Commissions will be lower for higher trading volumes. The pricing information will be available to those using the service who are not counterparties to a particular trade, as they will be able to view open orders and trading activity across the market.

At the same time, clients will have complete confidentiality up to the point of execution, after which only StoneX, as principal, will know their identity. In many cases, the fixed transaction cost will be lower than the bid/offers clients would obtain from dealers, and they can enter into trades of any size with confidence they won't move the market. They will also avoid potential conflicts arising from dealer desks misusing client trading flows.

Trade settlement will be through the ClearPar system wherever possible.

StoneX LoanMatch screenshot, showing representative open trades with bids and offers

StoneX to boost loan trading liquidity with dark pool tech platform

9fin team

Webinar replay:  CSRD — The key to filling LevFin ESG data gaps?

Owen Sanderson

Goldman sees fund finance as securitization’s new frontier

Blackstone asset-based boss targets investment-grade opportunity

Oliva Mantock

Laura Thompson

Karis Hustad

European leveraged loans Q3 24 — Where’s my (new) money?

Turbocharge your trading desk P&L, with the market's fastest news alerts.

Sales & Trading

Save time, react faster to news, outperform your peers.

Asset Managers & Hedge funds

Save time, pitch more efficiently, and win business.

Investment Banks

Spot novel covenants, save time drafting and win business.

StoneX to boost loan trading liquidity with dark pool tech platform

Read all our public content for free

Recently Published

Webinar replay: CSRD — The key to filling LevFin ESG data gaps?

Goldman sees fund finance as securitization’s new frontier

Blackstone asset-based boss targets investment-grade opportunity

European leveraged loans Q3 24 — Where’s my (new) money?

What are you waiting for?