Secondary Market Platform Ldger Announces Next Auction With a Twenty-Fold Increase In Loans
May 03, 2016 (PRLEAP.COM) Business NewsMay 3, 2016 - Ldger, the primary platform for secondary market liquidity solutions for marketplace lending assets, has announced its second auction of Prosper Marketplace loans. The auction, tentatively scheduled for the third week in May, will mark the first open all-to-all secondary trading auction by the company.
As of this writing, Ldger has received selling interest from holders of $4.6mm in MPL whole loans, representing a twenty-fold increase in inventory from the initial auction held on April 6th, 2016.
"We continue to onboard participants to our platform each day in preparation for our next auction, and aim to add to the balance of loans available for sale" said Hyung Kim, CEO of Ldger. "Currently, the portfolios listed for sale have assets with a weighted average loan age well past the age of 12 to 15 months where historically the cumulative default rates have flattened. As such, we expect strong demand from onshore and offshore buyers looking for seasoned, premium assets."
Ldger believes the timing for Ldger's auction platform just might prove to be auspicious as both lending platforms and investors have heightened their focus on capital and cost of funds recently. Their view is that the ability to actively manage exposures could prove to be highly attractive. Ldger has expressed their aim to standardize secondary markets across lending platforms. Their auctions currently support Prosper whole loans but will expand to include additional lending platforms.
An integral part of secondary markets for all assets is the ability to apply analytics to not only access fair value but relative value. "We have been in advanced discussions with a world-class provider of institutional grade analytics, core to their full investor suite application." said Hyung Kim. "We couldn't be more excited to be announcing the name and details of our partnership very soon."
Ldger is a New York City-based FinTech startup offering secondary market solutions for marketplace lending assets. The company's platform underpins its whole loan trading auction and also features a user-driven structured finance solution for data-rich asset modeling, automated transaction execution, inventory discovery and aggregation. Learn more at www.ldger.com.