A US trade association of syndicated loan professionals (including financial institutions and law firms) formed in 1995 to improve the liquidity of the US secondary market for the trading of debt. Among other things, LSTA publishes standard documents and provisions, settlement and operational procedures and market practices. LSTA standard documents are governed by New York law and include model credit agreement provisions and secondary market debt trading documents. LSTA works closely with its sister associations (the Loan Market Association (www.practicallaw.com/6-107-6779), the Asia Pacific Loan Market Association (www.practicallaw.com/6-203-4806) and the Japan Syndication and Loan-Trading Association (www.practicallaw.com/1-204-0471)) on global issues. For more information on LSTA, see its website.