Trading volume is expected to increase in 2023 with the continued momentum in Asia Pacific and expansion into EMEA; senior hires made in the UK and Asia to drive growth
1st FEBRUARY, 2023 – SINGAPORE/ HONG KONG/ TAIPEI/ LONDON – PrivEx (“the Exchange”), the world’s first licensed digital exchange for the trading of corporate bank loans, today announced it has recorded more than US$1.2 billion “live” offers on its Exchange over the last 6 months with US$100 million of trades done in Asia Pacific and these volumes are growing.
PrivEx, headquartered in Singapore, has been licensed by the Monetary Authority of Singapore as a Recognised Market Operator (“RMO”) since December 2019, allowing its ecosystem of banks and non-bank financial institutions to engage in the trading of corporate loans with realtime price discovery.
Launched in January 2022, PrivEx has built its member ecosystem to more than 40 international banks and funds across Australasia, EMEA, and the Middle East.
Tang P-Wa, co-founder and PrivEx CEO, on the company’s current performance said, “Achieving USD100 million in trades on the platform is a critical and major milestone for PrivEx, as it underscores the efficiency and industry adoption of our product, and allows us to continue to capitalise on gaps within the loan trading process. Through this small success and equipped with the prior knowledge that the latest available figures for 2021 for global syndicated lending volume, a subset of our addressable market, exceeded USD4 trillion, we believe that the growth potential for PrivEx is enormous as economies continue to recover”.
PrivEx is the world’s first and only licensed online digital exchange for corporate loans. Its members enjoy the use of its proprietary end-to-end trading solution, relieving them from “calling your 10 best friends” when trading a loan. Through its business model, members need only execute the global NDA and KYC once to ensure confidentiality in information transmission.
Through its digitised trading algorithms, trades can be listed and traded in less than 15 minutes as compared to expending approximately 19 man-hours under current protocols. “Calling your 10 best friends” results in the lack of transparency and accountability in secondary loan trading. PrivEx provides superior price discovery, enhanced liquidity and comprehensive data analytics. Moreover, PrivEx will be the only repository of actual traded prices and volumes.
Mr Sean Liu
Chief Commercial Officer
Mobile: +65 9834 4090
Mr Clarence T’ao
Mobile: +854 9832 4770
Ms Monica Chang 張致威
Head of Sales, Taiwan
Mobile: +886 932 140 704
Mr Julian van Kan
Mobile: +44 7710 995 644
Kate has over 25 years of banking experience. She has worked at SG Asia, HSBC, Citigroup, JP Morgan and Banco Santander. She has extensive experience over primary loan syndications, debt syndicate and sales, fixed income capital markets, loan distributions and secondary loans sales & trading.
She has been the Chairperson of the Secondary Loans Trading Committee of Asia Pacific Loan Market Association in 2013-2016. She has a Doctorate degree from The University of Newcastle, Australia, and is a Certified ESG Planner, CPA(US), CGMA and Financial Risk Manager.
Julian has spent much of his 40 years in investment banking in the loan syndications market. He was behind the development and growth of the business first at BNP and then ran the global Loan Syndications & Trading activity for the BNP Paribas which also included risk insurance. He was one of the original founding members of the Loan Market Association (LMA).
In 2011 he moved across to the coverage of Financial Institutions, first in EMEA and then APAC for BNP Paribas, and more recently held a similar role with MUFG. He has held Chair and non-executive roles in financial service related entities and remains engaged in similar roles in the health and education sectors and is an active angel investor in both Fintech and other industrial entities.
Over 36 years of banking experience, at various European financial institutions including, Scotia Capital, MUFG, Guy Butler and latterly Unicredit Bank. Encompassing 25 years of transacting in the Secondary Loan Market, trading par, distressed, single loans and portfolios, across EMNA including CEE, Russia and the US.