Kill the Fax

TRADING TECHNOLOGY

With talk of ultra-low-latency trading networks and lightening-fast supercomputers dominating the financial technology landscape, the idea of carrying out deals via a fax machine sounds hopelessly outdated. Yet more than 30 years after it hit the markets, this lowly piece of technology remains a vital messaging standard in syndicated loan market transactions. Now, however, its days may be numbered.

Currently, loan activity between agent banks and lenders, as well as trading activity in the

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