Debitos and WJ Global to fuel discussion on NPL marketplaces
Digital trading platforms simplify the sale of bad loans and help Europe’s banks to finally get their NPL problem under control. The European Commission has also recognized the value of such marketplaces. The administration held a first NPL roundtable in Brussels in January that gave buyers and sellers of non-performing loans the opportunity to engage with marketplace operators on the use of digital trading platforms. More than 80 people followed the invitation from the European Commission and participated in the open exchange.
The Frankfurt credit marketplace Debitos and WJ Global, a Europe-wide organizer of NPL conferences, are this year bringing the discussion on digital trading platforms for the sale of bad loans to many European financial centers. “The interest of market participants in the NPL roundtable was really overwhelming. During the event, however, it has also been shown that many participants have not yet come into contact with digital trading venues. We want to change this by bringing the discussions on this topic directly into the relevant markets,” said Timur Peters, founder and CEO of Debitos GmbH.
A round table discussion with marketplace operators, buyers and sellers of bad loans and a representative of the Commission, ECB or EBA will be held at the second “Debt in the European Emerging Markets Forum” on April 11th in Bucharest. On 22 May, an exchange is planned as part of the “Italian Debt Forum” in Milan. Other events organized by WJ Global will take place in June in Vienna, in October in Spain and in November in Frankfurt. There, roundtables on credit marketplaces are also an integral part of the event program.
Debitos is an online marketplace which enables companies, banks and funds to sell their credit exposures on the market through its open and transparent auction-based online transaction platform. The platform leverages on the digitalization of the entire sale process and can reduce the expected disposal timing to 3-8 weeks compared to 3-6 months of the traditional process. Debitos was founded in Frankfurt in 2010 and has since concluded more than 260 online transactions with a total gross book value in excess of €4bn. By now more than 600 investors from all over the world have registered with Debitos. http://pub.dev.debitos.com/
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