03 · LoanBook Trade · Secondary
Competitive price discovery for secondary loans.
A digital marketplace for corporate, FI and trade loans. Run BWIC and OWIC auctions to put real competitive tension into every trade, then manage it from due diligence to post-trade documentation.
- 2
- Auction protocols: BWIC and OWIC
- 250+
- Investors to match against
- 1 flow
- From listing to settlement
The problem
Secondary loans still trade by phone-around.
- Today
Opaque price discovery
Trades found through bilateral calls and chats.
With LoanBookBWIC and OWIC auctions
Competitive, auditable auctions across a matched network.
- Today
Hidden supply and demand
Holders and buyers can't see each other.
With LoanBookMatching engine
Every listing reaches the counterparties most likely to transact.
- Today
15–30 days to settle
Documents and transfers chased by email after every trade.
With LoanBookManaged trade workflow
Diligence, confirmation and transfer documents in one flow.
The workflow
List to settle, in one workflow.
Find
Trade
Settle
LoanBook Trade · 6 steps
Find
List
Post positions or demand to the marketplace
- Post positions or demand
- Set size, guidance and window
- Choose BWIC or OWIC
Find
Match
The engine targets likely counterparties
- Engine targets likely counterparties
- Invite matched buyers or holders
- Respect your counterparty limits
Trade
Compete
BWIC or OWIC within a timed window
- Sealed bids or offers in a timed window
- Seller sees every level
- Best level wins
Trade
Diligence
Permissioned access to credit documents
- Permissioned credit documents
- NDA-gated access
- Q&A with the seller
Trade
Execute
Digital confirmation and allocation
- Digital trade confirmation
- Allocation and price locked
- Full audit of the process
Settle
Settle
Post-trade documents and transfer
- Transfer documentation
- Agent consent and register update
- Post-trade status for both sides
Two protocols
Real competitive tension in every trade.
BWIC #118 · Halcyon Bank selling
6 matched buyers · sealed bids · 2-hour window
| Asset | Size | Bids | Best bid |
|---|---|---|---|
| Meridian Energy TLB | 25.0m | 5 | 98.875 |
| Atlas Ports RCF | 15.0m | 4 | 99.250 |
| Sahel Telecom TL | 20.0m | 3 | 97.500 |
| Coastal REIT Club | 10.0m | 6 | 99.625 |
| Orion Steel Trade | 8.5m | 2 | 100.000 |
Seller sees every level; buyers see only their own. Full audit trail of the process.
OWIC #72 · Northgate Capital buying
Demand posted to 31 holders · offers due in 2 hours
| Asset | Size | Offers | Best offer |
|---|---|---|---|
| GCC Utilities TLA | 30.0m | 4 | 99.125 |
| Meridian Energy TLB | 20.0m | 3 | 99.000 |
| Vantage Airlines | 12.0m | 5 | 96.750 |
| Kestrel Chemicals | 18.0m | 2 | 98.375 |
| Nile Infra PF | 9.0m | 3 | 99.500 |
Buyer reaches holders it could not see before. Offers flow straight into the trade workflow.
Start here, connect later
Works on its own. Stronger when connected.
Start with LoanBook Trade alone. Add any other solution when you're ready — it reads the same record, so nothing is re-keyed.
Key capabilities
A marketplace, not a phone list.
- 01
BWIC
Sellers list positions; matched buyers bid within a set window. Best level wins.
- 02
OWIC
Buyers post demand; holders compete with offers. Supply found without phone-around.
- 03
Matching engine
Connects every listing to the buyers most likely to transact.
- 04
Pricing and risk tools
Loan market data and analytics to support levels, limits and risk decisions.
- 05
Active portfolio management
One view of positions, exposures and cash flows, with sell-down ideas.
- 06
Post-trade documentation
Transfer documents and register updates handled in the same flow.