The Receivables Exchange has been selling the receivables small-medium-sized companies directly to institutional investors in real-time competitive auctions since 2007.
The NYSE Euronext stock exchange has taken a minority stake in The Receivables Exchange aiming to provide another outlet for public companies to borrow money, complementing the long-term funding provided by a stock-market listing. Already the offer is proving attractive to some of their large publicly quoted companies.
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