Octaura was formed in 2022 by a group of seven banks, including Citi and Bank of America Corp. The platform has been operating in a “beta” capacity for several months, with the first trades taking place in January.  A record $824 billion of loans changed hands in the secondary markets last year, according to the Loan Syndications and Trading Association. Bejile says the goal for Octaura is to command 2% of that in the coming 12 months.  Phone calls will likely remain part of large trades, whereas electronic platforms are useful for smaller transactions, which make up a significant portion of a trader’s overall workload, said Rebecca Willey, a senior loans trader at T. Rowe Price.

https://www.bloomberg.com/news/articles/2023-04-25/trading-platform-looks-to-revamp-loan-trading-by-cutting-calls?sref=EcccZSTc