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UPLEX Global seeks beta testers for secondary loans
INDIANAPOLIS (7/13/11)--UPLEX Global, an online loan trading platform, is inviting lending portfolio professionals at credit unions and other financial institutions to participate as Beta testers for its new online commercial loan portfolio management and trading platform at www.UPLEXGlobal.com. In exchange for testing the system for buying and selling whole loans, participations or portfolio assets, UPLEX will offer a free 18-month subscription, valued at $8,100, with no monthly account fee through 2012. Also, any trade made during 2012 will count toward the 2013 rebate of fees. The platform enables financial institutions to buy and sell commercial loans on a global basis. Simulators can experiment with the system, conducting simulated trades with mock loans at no charge. Or they can buy and sell real loans during the Beta period, paying a low per-transaction fee of 0.3% to 0.5%, based on the asset size traded. "We've designed this system specifically to eliminate the high cost and inefficiency barriers most smaller institutions face when looking to buy and sell individual loans, loan participations or loan portfolios," said Paul Giefing, CEO and founder of UPLEX Holdings. The service cuts out the middleman by letting buyers and sellers drive the transaction and the price, he said.


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