PrivEx plans to launch a second-hand loan trading platform in July

 
 
 
 
 
 
 
 
Ming Pao News, Hong Kong
 
Article Date: May 28, 2021
 

[Ming Pao News] PrivEX, which holds an approved market operator license in Singapore, said it plans to launch a second-hand loan trading platform in July. Cheng Dezhao, managing director of North Asia of the bank, said that the current local secondary loan market mainly relies on direct contact between buyers and sellers via telephone and email. Excluding the time required to obtain internal transaction permits, the transaction itself takes 13 to 19 working hours to complete. The market lacks transparency. Unable to obtain market prices. The bank’s launch of an electronic trading platform can shorten the transaction time to 15 minutes, and platform participants can obtain information about the same lender’s debt transactions in the past to facilitate the entry of new traders.


Push the electronic trading platform to shorten the transaction time to 15 minutes


PrivEX has offices in Hong Kong and Singapore, respectively responsible for North Asia and South Asia business. Cheng Dezhao said that the bank obtained an approved market operator license issued by the Monetary Authority of Singapore at the end of 2019. The system is now ready and has contact with 60 banks. With 20 fund and asset management companies, there are currently more than 10 institutions participating in the platform, including major banks active in the lending market. It is expected to drive other banks to participate. He expects that after the trial launch of the platform in July, there will be 20 institutions participate. Participants of the platform will charge an annual fee. For the time being, the annual fee for the first year will be waived, and transaction fees will be charged to both parties of the transaction. The platform targets at least US$10 million in loans per transaction. Cheng Dezhao said that the platform will adopt an anonymous system for buyers and sellers. Buyers can search for available loans and related financial information on the platform, and ask the sellers and make bids on the platform.

 

【明報專訊】在新加坡持有認可市場營運商牌照的PrivEX表示,擬在7月推出貸款二手交易平台。該行北亞洲董事總經理程德昭表示,目前本地的貸款二手市場主要靠買賣雙方直接經電話、電郵聯繫,撇除獲得內部交易許可的時間,交易本身需要13至19工作小時完成,市場缺乏透明度,無法獲得市場價格。該行推出電子交易平台可將交易時間縮短至15分鐘,而且平台參與者可獲得過去同一貸款人借債買賣的資料有利新交易者入場。


推電子交易平台 交易時間縮短至15分鐘


PrivEX在香港和新加坡設有辦公室,分別負責北亞和南亞業務,程德昭表示,該行在2019年底獲得新加坡金管局發出的認可市場營運商牌照,目前系統經已預備好,並已接觸60間銀行和20間基金和資產管理公司,目前暫有逾10間機構參與平台,包括活躍於借貸市場的主要銀行,預料可帶動其他銀行參加,他預期在7月試推平台後,會有20家機構參與。平台會參與者收取年費,暫時計劃會免首年年費,另向交易雙方收取交易費,平台目標每宗買賣的貸款金額至少1000萬美元。程德昭表示,平台會採取買賣雙方匿名制度,買家可在平台搜尋可供買賣的貸款和相關財務資料,並在平台向賣方發問和出價。

 

Source: https://m.mingpao.com/pns/%E7%B6%93%E6%BF%9F/article/20210528/s00004/1622138866099/privex%E6%93%AC7%E6%9C%88%E6%8E%A8%E8%B2%B8%E6%AC%BE%E4%BA%8C%E6%89%8B%E4%BA%A4%E6%98%93%E5%B9%B3%E5%8F%B0