The Loan Syndications and Trading Association, a group of U.S. loan traders, underwriters, and investors, said last week it had awarded its mark-to-market valuation project to Loan Pricing Corp.

The initiative compiles and aggregates loan valuation statistics from institutions reporting market bids and offers. The institutions then use the information in their valuations of bank loans for financial reporting purposes.

For the project, LPC is using its LoanConnector product.

The award of the mark-to-market initiative follows a six-month beta trial where bids on over 500 loans currently trading in the secondary market were submitted by traders and aggregated electronically by Loan Pricing through LoanConnector, its Internet-based communications, news and document delivery system.

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