Investabill ETR® are fixed value Exchange Traded Receivables that are loans or bills issued under contract for goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M01, Credebt Exchange® held Active RSA of EUR 76.68m, with EUR 22.08m allocated. Investors redeemed EUR 0.63m in the period and trading for M01 was EUR 5.92m+ with all available ETR utilised.
Treasury collections performance at EUR 7.90m of settled ETR was greater than trade value for the month. Trading for the month was largely below demand and repayments.
Performance
2019-M01 v 2018-M01 continued its significant increase in trade volume by 67.25% but with a disimprovement in the trade value that was down by 10.13%, year-on-year. Total trade for the month was EUR 5.93m and was below expectations. Disappointing beginning to 2019 that is expected to change by Q/E. Total creditors & debtors were c.5.0k. Highest single value trade was EUR 0.21m. Total trade for the period was EUR 5.93m
Trend
Yield increased by 10bps in the period rising from 2.044% to 2.141% in the month. As a narrow spread this continues to be driven by the stabilised supply v demand as the year begins. The Branch Network initiative has opened its first Local Branches with the second Branch opening in M02. Available Active RPA capacity was EUR 76.68m+
† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time