SecondMarket, which runs a secondary marketplace for illiquid assets, has formally launched the first centralized market for asset-backed securities.
SecondMarket's structured products team will run the ABS marketplace, which will cover a broad range of products and industries, the most common of which are credit card, automobile and student loan receivables.
However, there are various esoteric ABS — leased-back receivables, franchise loans, medical and heavy equipment leases, manufactured housing, to name a few — that will also be trading over SecondMarket.
