When the asset-backed - and especially the mortgage-backed - securities markets came screeching to a halt over the summer, market participants were afraid to post bids and offers on the often highly illiquid securities because no one knew their values and there was no forum for adequate price discovery.

New York-based UnifiedMarket Worldwide aims to provide that forum. Following initiatives earlier this year by several major Wall Street firms to offer venues to trade unregistered securities, the closely held independent firm financed by high-net-worth individuals plans to launch by year-end an online forum to exchange indications of interest (IOI) for illiquid securities and other assets. It will also provide the ability to negotiate terms anonymously and in detail, allowing for more substantial price discovery when the assets are highly illiquid or market interruptions occur.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.