New York, October 3, 2023 — Claira (www.claira.io), the leading provider of AI-powered document analytic solutions, today announced a partnership to integrate its cutting-edge analytics within Octaura (www.octaura.com), the premier open market electronic trading platform for Syndicated Loans and Collateralized Loan Obligations (CLOs).
This integration will enable Claira’s AI-driven document intelligence to be seamlessly accessible to traders for each deal on Octaura’s platform. Traders will be able to rapidly and accurately understand stipulations and covenants from deal documents, trade more swiftly and confidently, and better incorporate terms and conditions information into price and risk considerations.
As electronic trading for Loans and CLOs grows in prevalence, this integration ensures users can swiftly access precise deal information, sidestepping the need to sift through dense legal paperwork. This will undeniably ease the entry for new market participants, potentially expanding the CLO and Syndicated Loan markets.
“Teaming up with Octaura to introduce this integration will undoubtedly modernize the syndicated loan and CLO markets,” said Claira CEO Eric Chang. “With our analytics effortlessly available, market participants – both on the buy-side and sell-side – will benefit from swift and accurate deal evaluations, enhancing their trading confidence.”
The unveiling of this partnership aligns with a period of remarkable growth in the CLO and syndicated loan sectors, which have witnessed a twofold increase over the past decade, reaching impressive outstanding notionals of over $1 trillion and $1.4 trillion, respectively. This new integration is slated to be operational in Q4 2023.
“Incorporating Claira’s analytics directly into our platform marks a significant advancement in the leveraged loan and CLO space,” said Octaura CEO Brian Bejile. “This innovative integration will foster greater efficiency, providing comprehensive insights in one platform. We are enthusiastic about offering this capability to the 76 buy-side firms and ten dealers currently using Octaura’s loan trading platform.”
About CLAIRA:
Claira (www.claira.io) is a leading next-gen document intelligence technology company specializing in legal contract understanding. Built using advanced data science to reveal the underlying logic trapped in financial contracts, Claira is pre-trained to comprehend legal language — providing faster, deeper, and more actionable results with full transparency and traceability in its decision-making. No document training, setup, or installation is required. Claira can be accessed from any web browser or installed on-premise in a client’s data center.
About Octaura:
Octaura is an industry-led electronic trading, data, and analytics solution initially for syndicated loans and CLOs. Founded as an independent company in 2022, Octaura represents a significant milestone in the advancement of modernizing the syndicated loan and structured credit markets through common operational criteria, automation across pre and post-trade life cycles, improved ease in transactions, and advanced data and analytics. To learn more, visit octaura.com.
For media inquiries, please contact mediarelations@claira.io.
Source: Claira LLC
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