NYSE Primed for Receivables Market

The New York Stock Exchange announced some of its plans to get involved with accounts receivable factoring industry earlier this week.

Specifically, the NYSE hired Paul DeDomenico, previously chief executive of GE Capital’s working capital solutions group to head up the exchange group’s corporate receivables program. In addition, the NYSE took a minority stake in The Receivables Exchange.

The two moves, which come amid a fierce political debate over bank lending to small-and-midsize businesses, could provide an advantage to the NYSE in its battle with competitors over share listings, by allowing the Big Board operator to offer a broader suite of services to companies that choose to list with it. And the moves provide an entry point to a market in receivables estimated by the companies at $17 trillion in size domestically.

Click here for the entire article: NYSE Euronext Bulks Up In Market for Receivables.