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ID: 1124273
User: Mags123226
Article: SecondMarket
(This information is outdated. The "Relevant News" was 3 years old and no longer relevant)
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(SecondMarket no longer has marketplaces for most of the asset classes listed in this section.)
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On September 1, 2010, the [[World Economic Forum]] announced the company as a [[World Economic Forum#Technology Pioneers Programme|Technology Pioneer]] for 2011.<ref>[ Thirty-One Visionary Companies Selected as Technology Pioneers 2011]</ref>
On September 1, 2010, the [[World Economic Forum]] announced the company as a [[World Economic Forum#Technology Pioneers Programme|Technology Pioneer]] for 2011.<ref>[ Thirty-One Visionary Companies Selected as Technology Pioneers 2011]</ref>
==Markets Trading on SecondMarket==
{{cleanup|section|date=August 2010}}
===Restricted Securities in Public Companies===
[[restricted stock|Restricted securities]], SecondMarket's initial market, utilizes privately negotiated transactions to provide access to liquidity in the trillion dollar restricted securities market.<ref>{{cite news |title= Market Place; Seeking Unlimited Success From Providing a Market for Restricted Stock |url=| publisher=The New York Times |date=2005-05-28 |accessdate=7 December 2009 | first=Jenny | last=Anderson}}</ref><ref>{{cite news |title=Restricted, Distressed Securities Get E-marketplace|url=| publisher=Reuters |date=2007-09-19 |accessdate=7 December 2009 | first=Lilla | last=Zuill}}</ref> A privately negotiated sale allows buyers and sellers to trade registered and unregistered securities, pursuant to certain guidelines and conditions of the Securities Act of 1933. Several types of restricted securities trade on SecondMarket:
* Registered and Unregistered Stock
* Affiliate and Control Stock
* Convertible and Preferred Securities
* Public Debt Instruments
* Registered and Unregistered Warrants
* Block Trades (Small- and Micro Cap)
* Portfolio of Securities
* Warrant Management
===Auction-Rate Securities Market===
As a result of the economic crisis, in February 2008, [[auction rate security|auction-rate securities]] (ARS) experienced widespread auction failures that left hundreds of billions of dollars “frozen” in suddenly illiquid auction-rate securities.<ref>{{cite web |title=Liquidating Frozen Auction-Rates |url=|date=2008-04-29 | |accessdate=7 December 2009}}</ref> In response, SecondMarket (then Restricted Stock Partners) opened up its marketplace to the trading of all ARS types including:
* Auction-rate CDOs
* Auction-rate preferred securities (ARPS)
* Municipal auction-rate securities (MARS)
* Student-loan auction-rate securities (SLARS)
===Bankruptcy Claims Market===
SecondMarket entered into the [[Claim in bankruptcy|bankruptcy claims market]] in June 2008 by acquiring Trade Receivable Exchange, Inc. (T-REX) of Denver, at the time the largest online auction platform serving the bankruptcy trade claims market.<ref>{{cite web |title=Restricted Stock Partners Acquires T-REX |url= Restricted Stock Partners Acquires T-REX |publisher=dBusinessNews |accessdate=7 December 2009 |date=2009-06-09}}</ref> A variety of different claim types trade over SecondMarket:
* Administrative Claims
* Lease and Contract Rejection Claims
* Secured Claims
* General Unsecured Claims
* Scheduled and Unscheduled Claims
* Scheduled Priority Claims
===Limited Partnership Interests Market===
In February 2009, SecondMarket opened its marketplace to [[limited partners|limited partnership (LP) interests]], which are ownership rights in investment entities such as private equity funds, real estate funds, hedge funds, and [[fund of funds]]. Through this market, current limited partners are able to transfer future capital commitments to other investors who are better suited to satisfy the obligations.<ref>{{cite web |title=Private equity investors flock to sale platform |url= |publisher=Financial Times|date=2009-02-24 |accessdate=7 December 2009}}</ref>
===Structured Products===
In April 2009, Secondmarket opened the [[Collateralized Debt Obligations|collateralized debt obligations (CDO)]] and [[mortgage-backed security|mortgage-backed securities(MBS)]] markets.<ref name="Trading the untradable pays off">{{cite news |title=Trading the untradable pays off |url=|date=2009-04-14 |publisher=CNN Money |accessdate=7 December 2009 | first=Telis | last=Demos}}</ref> The variety of collateral types that can trade over SecondMarket are:
* Residential Mortgage-Backed Securities
* Corporate Mortgage-Backed Securities
* Other Asset Back Securities
* Corporate bonds (these structures are also known as Collateralized Bond Obligations or CBOs)
* Banks loans (the structures are also known as Collateralized Loan Obligations or CLOs)
* Credit derivatives
* Other CDOs (these structures are also known as CDO-squared)
* Other specialized debt types
===Whole Loans===
Launched in April 2009,<ref name="Trading the untradable pays off"/> SecondMarket's [[loan|whole loans market]] facilitates transactions in a wide variety of residential, commercial and specialty loan types. SecondMarket transacts in both performing and non-performing individual loans as well as entire loan portfolios. SecondMarket facilitates trading in a wide variety of loan types including:
* Residential mortgages
* Commercial loans
* Construction loans
* Consumer loans
* Industrial Loans
* Loan Portfolios
===Private Company Stock Market===
SecondMarket's market for stock in [[privately held company|private companies]] opened in April 2009 and facilitates transactions in both debt and equity securities in a wide variety of dynamic, high growth private companies.<ref>{{cite news |title= With Private Trades, Venture Capital Seeks a New Way Out|url=| publisher=New York Times |date=2009-04-22 |accessdate=11 January 2010}}</ref> Through SecondMarket, private companies can opt-in to an organized, controlled private liquid environment that offers early investors and employee shareholders exit opportunity prior to an IPO or M&A event. Numerous high profile companies have traded over SecondMarket including Facebook, Tesla, Zynga and Twitter.<ref>{{cite web |title= How Can Twitter And Facebook Employees Cash Out Now |url=|publisher=Washington Post|date=2009-06-23 |accessdate=7 December 2009}}</ref>
===Government IOUs===
SecondMarket’s government warrant market facilitates transactions in registered warrants (IOUs) issued by state governments. When the state of California issued warrants to its creditors in mid-2009, SecondMarket opened up a market place to facilitate the trading of government IOUs.<ref>{{cite web |title=California IOUs set for trade |url= |publisher=dBusinessNews |accessdate=11 January 2010 |date=2009-06-16}}</ref>
Reason: ANN scored at 0.945999
Reporter Information
Reporter: Bradley (anonymous)
Date: Wednesday, the 21st of October 2015 at 06:09:23 PM
Status: Reported
Friday, the 22nd of June 2012 at 04:01:02 PM #77766
Anonymous (anonymous)

The information removed from the page is 3 years old and no longer applies to what SecondMarket does.

Wednesday, the 21st of October 2015 at 06:09:23 PM #101688
Bradley (anonymous)