Today financial services sector’s electronic trading environments do not offer possibilities to trade with claims, invoices and factoring agreements(assignments, receivables). Receivables market is mostly human trading. Electronic trading platforms for receivables, like stock exchanges, do not exist. There are some entrepreneurs and startups, the trading platforms are eBay-like online invoice trading and human-backed excel-based systems. There are no direct connections to investors.
PlanetZiggurat goal is to bring assignments on Ecex.Exchange trading platform. We will fill the gap by creating a market environment, a system for an active trading platform of assignment agreements. This means changing for owners of a multitude of agreements and documents, such as claims, invoices and factoring agreements etc.
The market system will be similar to the stock market – very transparent and fast and it will allow trading claims, invoices from the moment they are being issued until the payment date. Claims, invoices will be traded until the obligations are either met or erased due to bankruptcy or natural end of the issuer. The owner of the invoice or claim can delist his right any moment (and exercise his right to realize their own requirements).
As all traders know, all markets function through leading brokerage firms and online brokerage firms. All traders want to be close to possibilities that allow them to make fast decisions and take actions directly, using market data and trading terminals. PlanetZiggurat will spread all relevant trading data to leading brokerage firms and online brokerage firms. We will make arrangements that will get the existing investor community connected to the new assignment market.
Blockchain technology can be used to verify transactions using a third party.
There are three tools planned:
1. The trading platform, exchange for claims, invoices and others subjects for assignments (all together assignments)
2. Exchange information flow through leading brokerage community. PlanetZiggurat will launch a trading platform to show and teach members and clients,
https://ecex.exchange/ and
https://planetziggurat.com/ 3. Blockchain, especially digital signature (
https://azure.microsoft.com/en-us/solutions/blockchain/)
PlanetZiggurat will start on the Estonian market due to the small size of the country as a test market and relatively high level of IT development in the country. This will allow to get a functional system up an running fast, have the system compatible with EU regulations and use a small market as a test site for further development in order to be able upscale in full range and functionality at bigger markets at the right time
The stock exchange in Estonia is very small. There are 50 000 trades per year, the depository and market systems are designed for small volumes and are relatively cheap. PlanetZiggurat knows the involved persons and companies and is planning to build its systems with the same software and legal background.
http://www.nasdaqbaltic.com/market/?lang=enPlanetZigurrat has an arrangement with an advisory company (
http://bda.ee/en/) who will help to harmonize the system with legislation.
This business plan, PlanetZiggurat OÜ Ecex.Exchange Trading Platform whitepaper, attempts to fill the gap described by European Commission Directorate-General for Financial Stability, Financial Services and Capital Markets Union
“DEVELOPMENT OF SECONDARY MARKETS FOR NON-PERFORMING LOANS AND DISTRESSED ASSETS AND PROTECTION OF SECURED CREDITORS FROM BORROWERS’ DEFAULT “
https://ecex.exchange/
