Percent Unveils PCTX, the Private Credit Electronic Trading Venue Built to Unlock Liquidity

The standalone institutional venue brings liquidity discovery, standardized loan-level data and privacy-preserving workflows to a private credit market projected to reach $3.4 trillion by 2030

NEW YORK, Sept. 30, 2026 /PRNewswire/ -- Percent, the platform powering modern private credit markets through access, liquidity and data, today unveiled PCTX, a standalone electronic trading venue purpose-built for institutional private credit. Operating separately from Percent.com, PCTX is designed specifically for institutional investors and managers to access liquidity, evaluate assets and transact in directly originated private credit more efficiently.

The U.S. private credit market is projected to outpace U.S. high yield bonds and leveraged loans and reach $3.4 trillion outstanding by 2030, yet loan-level trading still occurs largely through bilateral transactions coordinated over email, spreadsheets and phone calls. As the market grows, the lack of standardized documentation, trading conventions and settlement systems can constrain price discovery, portfolio rebalancing and liquidity management. PCTX brings discovery, negotiation, documentation and settlement into a single electronic workflow, creating a more structured way for institutions to find counterparties and transact.

"Private credit has become a major asset class, but the systems for finding liquidity and trading assets have not kept pace," said Prath Reddy, co-founder and CEO of Percent. "PCTX is the first and only electronic trading venue created specifically for private credit, giving institutional market participants a more efficient way to seek loan-level liquidity without sacrificing the privacy that defines the asset class. Even when a manager has no intention of selling an asset, the ability to source a credible mark from another qualified institution can provide additional insight into how the market should value that asset. That kind of price discovery simply hasn't existed at scale in private credit."

PCTX serves private credit asset managers, direct lenders, insurance companies, banks, family offices and other institutional market participants. Its tiered visibility model allows users to identify potential assets and counterparties without immediately revealing sensitive information, with greater access to loan-level data and identity provided as a potential transaction progresses.

The venue will support individual loan and loan portfolio indications of interest, BWICs and OWICs, adapting trading protocols familiar to institutional fixed-income markets for private credit. PCTX is designed around traditional, directly originated loans and the workflows institutions already use. Loan information can be added manually, through spreadsheets or through direct integrations with portfolio management systems, while PCTX supports the process through documentation, settlement instructions and servicing transitions. The venue is live and at the time of launch over a dozen managers, representing $250 billion in private credit AUM, have already signed up.

After eight years of building in private credit, PCTX marks the next step in Percent's evolution, extending that experience into a venue designed to support a more connected and efficient institutional market.

Disclaimer: PCTX is operated by Cadence Group, Inc. d/b/a Percent Technologies ("Percent Technologies"). PCTX does not permit or facilitate transactions in securities, does not provide brokerage or investment advisory services, and is not registered as a broker-dealer, investment adviser, national securities exchange or alternative trading system. PCTX permits only preliminary, non-binding indications of interest concerning eligible private credit assets that are not securities.

About PCTX
PCTX is a standalone electronic trading venue purpose-built for institutional private credit. Built and operated by Percent, PCTX is designed specifically for institutional investors and managers to access liquidity, evaluate assets and transact in directly originated private credit more efficiently. The venue brings discovery, negotiation, documentation and settlement into a single electronic workflow, creating a more structured way for institutions to find counterparties and transact in privately negotiated individual loans and loan portfolios. For additional information, please visit www.pctx.com.

About Percent
Percent is unlocking private credit by enabling efficient access, liquidity optionality, and data for all market participants. Through its digital primary issuance and secondary markets platform, Percent provides all deal counterparties with a unified environment to source, structure, distribute, service and trade private credit assets. Founded in 2018, Percent has facilitated billions in private credit transaction volume — bringing transparency and standardization to a historically fragmented asset class. For additional information, please visit www.percent.com.

SOURCE Percent