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  6. Virtus Trade Settlement, LLC

Virtus Trade Settlement, LLC

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100 WALL ST FL 11 NEW YORK, NY 10005 Get Directions

(212) 463-7801

www.trade-settlement.com

support@tradesettlement.com

Business Info

  • Founded 2015
  • Incorporated NY
  • Annual Revenue $1,066,306.00
  • Employee Count 17
  • Industries Financial Services
  • Contacts Pat Loret De Mola

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Company Summary

Established in June 2000, Trade Settlement Inc.® is the premier industry leader in automated loan closings. TSI introduced the first integrated, post-trade loan settlement platform serving the $3.0 trillion Primary and Secondary syndicated loan markets. The Company supports all of the major Agent banks and well over 600 buy-side firms. TSI's cloud-based platform brings efficiency, speed, seamless data integration, and high-speed connectivity to the loan closing process. The Loan Market The Loan Market is large and inefficient. The new issue global loan market approached $3.8 trillion and has grown at a rapid rate. The Loan Syndication Trading Association (LSTA) estimated the U.S. secondary par/near par loan trading market at approximately $413 billion in 2010. One of the greatest impediments to liquidity and growth in the secondary loan trading market is the exceedingly cumbersome trade closing process. It is manual, decentralized, telephone and email dependent and accordingly slow, costly and unpredictable. Although the industry promotes a T + 7 standard settlement period, it frequently stretches to T + 18 or more. Longer term issues include weak data management and reporting tools, thin operating capacity and slow adoption of standardized reference data such as CUSIPs and entity identifiers.

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