BMA focuses on European CDO market

Paul Saltzman, BMA general counsel, said the committee is actively exploring the creation of an online library of deal documents on European transactions that would be available to qualified investors and investment banks.

The plan is to bring more transparency and liquidity to the CDO market. The BMA launched a similar resource in the US in September, which Saltzman said has met with success. “We are getting dealers and investors signing up in droves,” he said.

The US system includes information on transaction swap agreements, and offering memoranda, monthly trustee reports and indenture documents, which outline the responsibilities of all parties involved in the transaction.

Information is supplied to the library by investment banks, and users can search for specific transactions by deal name, underwriter, collateral manager or deal date.

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