Today the Exchange received funds from it’s fiftieth Retail Investor. Since the first date of trading on 4 July of his Year (see article: First RSA/RPA Trade Executed), achieving 50 Retail Investors demonstrates a strong appetite amongst the investment community for strong, short term cash-equivalents such as ETR….
Exchange Traded Receivables [ETR] are invoices issued under Contract for goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at Q3, Credebt Exchange® held RPA of €3.2m, with €1.7m contributed during the quarter. The full spectrum of available ETR was utilised and all currency exposure was hedged
In September, Credebt Exchange® introduced Instalment ETR [i-ETR] with Standard & Poor’s AA- or X2A Long-Term rating. i-ETR are invoices under Contract payable on an instalment basis (e.g. insurance premiums/asset purchases)
2013-Q3 was the first quarter of trading for Credebt Exchange®. Debtor numbers to the end of September were circa 200. Daily volume rose sharply with total recorded trades in excess of 1,300+. Highest single value trades were in July and September at an average of € 0.4m. Current RSA valued at € 13.1m+
Yield continued to trend downwards during the quarter, reflective of prevailing deposit rates. Volume of Originator trading continued a steady trend upwards with Investor demand slowing in August and returning to steady growth in September. Outlook for Q4 is medium to strong with immediate, additional capacity for RPA contracts of €3-5.0m
† 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