Secondary markets

The post-issuance trading or buying and selling of instruments, including, but not exclusively, asset-backed securities or ABS; commercial or residential mortgage-backed securities or MBS or CMBS or RMBS; collateralised debt obligations or CDOs; and collateralised loan obligations or CLOs takes place in the secondary market. Prices established in the secondary market are seen as an efficient means of deriving the value of similar products for valuation purposes.


  • Cladding issues

    Fire-safety requirements to have 'marginal' impact on RMBS

    DBRS Morningstar has investigated the pervasiveness of the impact on UK mortgage borrowers of claddi...

    News    8 March 2021
  • SCI Start the Week - 8 March

    A review of securitisation activity over the past seven days

    Last week's stories Benchmark legislation Congress to rescue Libor-based contracts, but question...

    News    8 March 2021
  • Middle market opportunities

    MM CLOs still offer relative value and continued innovation

    One of the key attractions of middle market CLOs is the relative value opportunity they offer invest...

    News Analysis    5 March 2021
  • SCI Start the Week - 1 March

    A review of securitisation activity over the past seven days

    Last week's stories Democratising access Debut Indian wealth-tech bond repaid Morgan mulled ...

    News    1 March 2021
  • Ever-changing moves

    Euro CLOs remain fluid

    The European CLO market is in a far more fluid state than the headline refi/reset boom suggests. As...

    News Analysis    1 March 2021
  • Pattern recognition?

    New issue and secondary CLO double-B disparity discussed

    SCI publishes regular case studies and reports on the CLO market in addition to our usual news stori...

    News    1 March 2021
  • Pandemic uplift

    Covid-19 boosts NPL note sales

    Non-performing loan note sales have increased by 70% since the start of the coronavirus pandemic and...

    News    26 February 2021
  • MM CLO seminar line-up finalised

    AI networking opportunities offered

    The line-up for SCI’s 2nd Annual Middle Market CLO Seminar has been finalised. Th...

    News    24 February 2021
  • US CLOs stay strong

    Resets active as participants also address other issues

    Reset activity continues apace in the US CLO primary market. At the same time, other aspects of the...

    News Analysis    23 February 2021
  • SCI Start the Week - 22 February

    A review of securitisation activity over the past seven days

    MM CLO seminar this week Join SCI on Thursday 25 February for our second Middle Market CLO seminar...

    News    22 February 2021
  • SCI Start the Week - 15 February

    A review of securitisation activity over the past seven days

    Last week's stories Constructive outlook AXA Investment Managers answers SCI's questions Fly...

    News    15 February 2021
  • True to form

    Top tier CLO managers lead the way, but some distinguish themselves further

    Leading US CLO managers for the most part continued to retain their position as the most consistent...

    News Analysis    8 February 2021
  • SCI Start the Week - 8 February

    A review of securitisation activity over the past seven days

    Last week's stories Beware the ides of March The end of mortgage forbearance schemes is ominous...

    News    8 February 2021
  • SCI Start the Week - 1 February

    A review of securitisation activity over the past seven days

    Last week's stories 2021 STACR debut Freddie Mac prints first CRT trade of 2021 inside guidance ...

    News    1 February 2021
  • Euro CLO shift

    Primary market comes into focus

    A buoyant start to the year for the European CLO market has been supported by strong secondary marke...

    News Analysis    1 February 2021
  • Positive prospects

    Secondary CRT market gains traction

    The coronavirus crisis has increased the prospects for a more active secondary market for capital re...

    News Analysis    28 January 2021
  • Liquidity impact

    Post-Brexit divergence highlighted

    Liquidity is one area of concern following the UK’s withdrawal from the EU, given that UK...

    News    28 January 2021
  • US CLO rally rolls on

    Current focus on mezz looks set to move down the stack

    Strong demand continues to drive secondary spreads tighter across the US CLO capital stack. But &...

    News Analysis    27 January 2021
  • NPL pipeline builds

    European asset disposals intensify

    The European banking system’s disposal of non-performing loans intensified in 4Q20, partic...

    News    26 January 2021
  • SCI Start the Week - 25 January

    A review of securitisation activity over the past seven days

    Last week's stories CMBS sailing Stormy waters ahead and astern, but the US CMBS market has avoi...

    News    25 January 2021
  • Secondary supply

    Euro ABS trading set to dominate

    European ABS secondary spreads have completed a three-quarter circle from their coronavirus-related...

    News    22 December 2020