Duelling repack platforms find common ground

Standard documentation initiative mulls shared SPV model as founders seek to join rival

Since 2016, the bond repackaging market has been divided by a common vision. Dealers want to tackle dangers revealed by the Lehman Brothers collapse, while also making the notes easier to buy and sell. But they have split into two groups – six banks on each side – over the details of how to get there.

For the past two years, each group has privately rubbished the efforts of the other. Now, they