15 Sep Coefficient Markets Officially Launches EPIC Mirror
The Company’s web-based platform specifically for buyside loan traders and portfolio managers launches with the support of eight dealers representing nearly 60% of market liquidity
New York, NY, September 15, 2023 – Coefficient Markets (“Coefficient”) is pleased to announce the official launch of its EPIC Mirror platform for buyside leveraged loan traders and portfolio managers. The sister product to the EPIC platform for dealers, EPIC Mirror allows traders to view markets and engage to execute trades directly with their dealer counterparts. Built on technology developed by its partner, Etrading Software, Coefficient hopes this new platform will bring the benefits of electronic trading to the leveraged loan market in a way that respects and leverages longstanding relationships between market participants.
EPIC Mirror enables several industry-leading innovations for buyside traders including:
- Market runs and axes, including real-time updates from dealers utilizing EPIC
- Custom watchlists and alerts
- Portfolio trading negotiation and execution directly through the platform with any EPIC dealer on a bilateral basis
- ETF Create/Redeem trades automatically priced at the third-party mid with full straight through processing for executed trades
“EPIC Mirror facilitates electronic bilateral information sharing and provides value to both sides of the market,” said Brian Callahan, CEO of Coefficient. “EPIC and EPIC Mirror have been built on the premise that lack of information is the greatest impediment to liquidity. Our technology can dramatically increase the volume and velocity of trading in the market by identifying trades that are accretive to both dealers and their clients.”
EPIC Mirror launches today with the support of eight dealers and its inaugural and premier integration partner, Allvue Systems. In addition, Coefficient is working with multiple other OMS vendors for full integration with its platform. Since the launch of EPIC Mirror, Coefficient has onboarded over 40 different buyside customers spanning CLO managers, mutual funds, hedge funds and regional banks.
Coefficient was founded in 2021 to address many of the longstanding technology challenges of the syndicated corporate loan market. Coefficient’s systems harmonize and standardize data from many disparate sources to streamline workflows from end to end.
Coefficient develops technology and workflow solutions in partnership with Etrading Software, a London-based technology and managed services firm. ETS specializes in building and managing multi-party financial workflows and technology across the Fixed Income Markets. Coefficient leverages Etrading Software’s technology development, platform business management, as well as its deep knowledge and expertise of the financial markets, to deliver intuitive front office solutions that can be seamlessly tailored and scaled across use cases.