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.

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