Category: The Credebt Exchange® Story

2020-M10 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are leases, monetary obligations or bills issued under contract for assets, goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M10, Credebt Exchange® held Active RSA of EUR 18.04m, with EUR 26.93m fully allocated. Investors net redemptions were EUR 0.56m in the period with trading of EUR 13.31m+ and all ETR utilised.

M10 Treasury collections at EUR 14.85m of settled ETR was c.11.10% ahead of Trading. Treasury is collecting faster than the Trade Desk is trading. A good indicator of performance.

Performance

2020-M10 v 2019-M10 trade value is 67.92% higher. More international trade finance deals occurring as this new business sector develops in 2020-Q4. Trade volumes were on par with prior year results. Monthly withdrawals by Investors were seasonally low at c.EUR 0.56m. The Credebt® Index remained stable at 92 and remains in line with 2019. Originators continue to draw comfort from this. Total credebtors was c.6.2k+ and EUR 3.39m was the largest trade.

Trend

Yield continues its refusal to move above its ‘ceiling’, starting above 1.800% and ending the period slightly above 1.820%. Investor yield remains low and it is expected that the Exchange will intervene with a temporary ‘Year-1 Bonus’ to boost initial investment yields in 2021. International trade finance remains a trading focal point. Total RSA was EUR 18.04m+

2020-M10 ETR Briefing Trade Credebt

2020-M10 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2020-M09 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are leases, monetary obligations or bills issued under contract for assets, goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M09, Credebt Exchange® held Active RSA of EUR 18.84m, with EUR 27.92m fully allocated. Investors net redemptions were EUR 0.26m in the period with trading of EUR 9.10m+ and all ETR utilised.

M09 Treasury at EUR 11.17m of settled ETR was ahead of trading as the larger value trades from M07 settled. These results are a strong sign that Treasury is performing well.

Performance

2020-M09 v 2019-M09 continues its strong increase in trade value of 68.09% as more PPE trades washed through the system and new business sectors are developed. Trade volumes continued to remain low. Monthly withdrawals by Investors were low at c.EUR 0.26m. The Credebt® Index recovered by almost 25.00% to 88 and returns to 2019 levels. Originators should draw good comfort from this. Total credebtors was c.6.2k. EUR 0.23m was the largest trade.

Trend

Yield continues to disappoint, starting above 1.860% and ending the period below the 1.800% mark. Despite trade remaining strong, the Investor yield remains low. The Exchange must execute new market strategies rather than relying on speculative PPE trades. A strong focus on international trade finance is seen as the solution. RSA was EUR 19.71m+

2020-M09 ETR Briefing Trade Credebt

2020-M09 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2020-M08 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are leases, monetary obligations or bills issued under contract for assets, goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M08, Credebt Exchange® held Active RSA of EUR 19.71m, with EUR 24.50m fully allocated. Investors net redemptions were EUR 0.73m in the period with trading of EUR 13.24m+ and all ETR utilised.

M08 Treasury performance at EUR 12.74m of settled ETR was in line with Trading after the larger than usual trade values from M07. Collections are now in line and on par with trading.

Performance

2020-M08 v 2019-M08 again saw an increase in trade value of almost 100.00% as more of the PPE trades washed through the system. At the same time, Trade volumes continued to remain low. Investor monthly withdrawals were higher than usual at c.EUR 0.73m. The Credebt® Index eased back by six days to 118 as the Exchange continues its projected growth. Total credebtors were c.6.1k. The largest single value trade was EUR 2.27m (again, this was on PPE equipment).

Trend

Yield made a slight gain to the positive starting at c.1.825% and ending the period over 1.840%. Even allowing for seasonality, trade remained strong and Investor yield remains low and stable. Recessionary markets saw the Exchange continue its new market strategies to sustain its strong performance in international trade finance. RSA was EUR 19.71m+

2020-M08 ETR Briefing Trade Credebt

2020-M08 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2020-M07 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables Receivables that are leases, monetary obligations or bills issued under contract for assets, goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M07, Credebt Exchange® held Active RSA of EUR 20.15m, with EUR 25.41m fully allocated. Investors net redemptions were EUR 0.09m in the period with trading of EUR 37.30m+ and all ETR utilised.

M07 Treasury performance at EUR 28.84m of settled ETR although very much larger than normal, was still substantially below Trading that was also significantly larger than usual.

Performance

2020-M07 v 2019-M07 saw a dramatic increase in trade value of c.275.00%, as the coronavirus PPE equipment trades spiked. At the same time, Trade volumes remained low. Investor monthly withdrawals were very light at c.EUR 90.0k. The Credebt® Index eased back to 124 as the Exchange experienced unprecedented growth. Total credebtors were c.6.0k. The largest single trade was EUR 3.67m (on PPE equipment).

Trend

Yield, although erratic within tight bands of between c.1.800% and 1.835% remained flat overall for the month at 1.815%. Although recovery and trade are very strong, Investor yield remains low and stable. Recessionary markets means the Exchange must continue its new market strategies to sustain its strong performance. Available RPA was EUR 20.15m+

2020-M07 ETR Briefing Trade Credebt

2020-M07 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2020-M06 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are leases, monetary obligations or bills issued under contract for assets, goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M06, Credebt Exchange® held Active RSA of EUR 22.54m, with EUR 22.69m fully allocated. Investors net redemptions were EUR 0.24m in the period with trading of EUR 14.65m+ and all ETR utilised.

M06 Treasury performance at EUR 11.27m of settled ETR was below trading that was very brisk. This improvement in trading for the month will take time for Treasury to recover.

Performance

2020-M06 v 2019-M06 showed a sharp increase in trade value of 21.83%, as the coronavirus lockdown eased. Trade volumes remained in a downward trend. Investor monthly withdrawals at c.EUR 0.24m were ‘normal’. Another all-time high Credebt® Index at 134. The Exchange has returned to strong growth as predicted. Total credebtors were c.6.0k. The largest trade was EUR 2.46m (on a PPE equipment trade).

Trend

Yield average started at c.1.850% and ended down at 1.821% and was ‘flat’ on M05. Although recovery and trade are strong, Investor yield has not yet risen. With markets in a recession the Exchange continues to seek and see a steady increase in new market, trade enquiries. Available RPA was EUR 22.54m+

2020-M06 ETR Briefing Trade Credebt

2020-M06 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2020-M01 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are leases, monetary obligations or bills issued under contract for assets, goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M01, Credebt Exchange® held Active RSA of EUR 32.78m, with EUR 23.90m fully allocated. Investors redeemed EUR 0.20m in the period and trading for M01 was EUR 8.85m+ with all ETR utilised.

Treasury performance at EUR 7.14m of settled ETR was almost at parity for the month. This balance can be attributed to an overall levelling of trade as we enter the New Year.

Performance

2020-M01 v 2019-M01 showed an increase in trade volume of 13.31% and also a substantial trade value increase of 35.37%. This is a good start to a new decade and can be attributed to the 2020 plan proving its results. The Credebt® Index of 109 makes a favourable market for the Exchange. Total creditors & debtors were c.6.0k. The largest single trade was EUR 0.38m

Trend

Yield average increased to c.1.934% in the month starting at 1.940% and ending on 1.958%. This stabilised price is expected to increase in Q2/Q3 in line with Originator supply. The increases in the Credebt® Index and in supply from Originators should see this figure remain constant until later in the year. Available RPA capacity was EUR 32.78m+

2020-M01 ETR Briefing Trade Credebt

2020-M01 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2019-M12 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables Receivables that are leases, monetary obligations or bills issued under contract for assets, goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M12, Credebt Exchange® held Active RSA of EUR 32.13m, with EUR 31.96m fully allocated. Investors redeemed EUR 0.56m in the period and trading for M12 was EUR 11.82m+ with all ETR utilised.

Treasury performance at EUR 6.80m of settled ETR was still below the trade value for the month. Seasonality and new Originators are the primary reason for the wide variance.

Performance

2019-M12 v 2018-M12 showed a decline in trade volume of -50.57% but with a substantial trade value increase easing of 39.49%. This reversal of fortune can be attributed to the 2020 plan beginning to show results. The Credebt® Index of 112 makes a favourable market for the Exchange. Y/E total trade was c.EUR 100.88m. Total creditors & debtors were c.5.4k. The largest single trade was EUR 0.96m

Trend

Yield average increased to c.1.940% in the month starting at 1.924% and ending on 1.927%. A decisive Brexit has helped stabilise the price. The increases in the Credebt® Index and in demand from Originators should see this figure stabilise at c.1.900% – 2.000% as the Year closes and the 2020 plan unfolds. Available active RPA capacity was EUR 32.13m+

2019-M12 ETR Briefing Trade Credebt

2019-M12 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2019-M11 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are leases, monetary obligations or bills issued under contract for assets, goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M11, Credebt Exchange® held Active RSA of EUR 31.14m, with EUR 23.20m fully allocated. Investors redeemed EUR 1.25m in the period and trading for M11 was EUR 7.90m+ with all ETR utilised.

Treasury performance at EUR 6.16m of settled ETR was unusually below the trade value for the month. It is expected that Collections will finish out the Year slightly higher.

Performance

2019-M11 v 2018-M11 showed a repeat decline in trade volume of -40.09% with the trade value decrease easing further to -19.55%. SME access to trade credit continues to be a negative factor. The Credebt® Index of 109 makes a favourable market for the Exchange for the remainder of Q4 and this is expected to increase substantially in 2020. Year to date Trade was c.EUR 88.09m. Total creditors & debtors were c.5.4k. The largest single trade was EUR 0.68m

Trend

Yield averaged c.1.920% in the month starting at 1.902% and ending on 1.926%. Brexit looming, the increase in the Credebt® Index and lack of demand from Originators are all contributing factors. Driven by supply and demand economics, the yield level will most likely remain at this sub-2.000% level until Y/E. Available active RPA capacity was EUR 31.14m+

2019-M11 ETR Briefing Trade Credebt

2019-M11 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2019-M08 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are loans or bills issued under contract for goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M08, Credebt Exchange® held Active RSA of EUR 23.17m, with EUR 25.82m allocated. Investors redeemed EUR 0.28m in the period and trading for M08 was EUR 6.65m+ with all available ETR utilised.

Treasury performance at EUR 5.02m of settled ETR was marginally below the trade value for the month. Seasonality affected both trade and collections in the period.

Performance

2019-M08 v 2018-M08 showed a continued decrease in trade volume of 43.93% with a significant drop in trade value of more than 18.35% in the month. As the availability of SME trade credit continues to increase, the overall year-on-year decrease for the Exchange showed c.EUR 65.08 traded year to date. This sharp decline for 2019-M08 is also as a result of seasonality. Total creditors & debtors were c.5.3k. The largest single trade was EUR 0.20m

Trend

Yield continued the downward trend from July with the period ending at a new annual low of 1.917%. This is driven by seasonality and deepening market concerns on Brexit. The yield decrease is predicted to drop even further in H2 as the supply v demand imbalance continues. Available active RPA capacity was EUR 23.17m+

2019-M08 ETR Briefing Trade Credebt

2019-M08 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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2019-M07 ETR Briefing

Investabill ETR® are fixed value Exchange Traded Receivables that are loans or bills issued under contract for goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M07, Credebt Exchange® held Active RSA of EUR 32.92m, with EUR 22.43m allocated. Investors redeemed EUR 1.31m in the period and trading for M07 was EUR 9.93m+ with all available ETR utilised.

Treasury performance at EUR 6.52m of settled ETR was significantly below the trade value for the month. Unstable trading in the month over shadowed repayments.

Performance

2019-M07 v 2018-M07 showed a decrease in trade volume of 9.29% with a significant drop in trade value of more than 33.87% in the month. Total trade for the year was EUR 54.60m showing an overall year-on-year decrease for the Exchange of c.16.84%. Trading for 2019-M07 showed an overall stagnant, to declining, position for the year to date. Total creditors & debtors were 5.2k+. The largest single value trade was in July with a value of EUR 0.45m

Trend

Yield remained generally stable for the period at 2.021% to 2.076% in the month with a sharp decrease at month end. This is driven by seasonality and continued market concerns on Brexit. The yield decrease is predicted to drop further in H2 as the supply v demand imbalance widens. Available active RPA capacity was EUR 32.92m+

2019-M07 ETR Briefing Trade Credebt

2019-M07 ETR Briefing

† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time

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