Press Room
Award Affirms SecondMarket's Marketplace Solution for Unlocking Illiquid Assets
NEW YORK, N.Y., May 13, 2009 – SecondMarket, the largest marketplace for illiquid assets, has been recognized as the overall winner of the 2009 AlwaysOn East 100 Top Private Companies List. The award is given to a private, emerging technology company that creates new business opportunities in high-growth markets. SecondMarket was selected by the AlwaysOn editorial team based on demonstration of growth, market opportunity, quality of innovation and customer traction.
“We are thrilled to be listed with such innovative companies and are honored to be recognized by AlwaysOn as the overall winner and leading private company on its East 100 list,” said SecondMarket CEO Barry Silbert. “This recognition lends further support to our marketplace solution as the new path to liquidity in multiple illiquid assets – from auction-rate securities to LP interests to private company stock. We are committed to bringing the power of centralization, efficiency and transparency to help create robust secondary markets.”
SecondMarket, through its online trading platform, proprietary matching algorithm and deep network of contacts, has established itself as the trusted, independent marketplace for investors across a variety of illiquid asset classes, including auction-rate securities, bankruptcy claims, collateralized debt obligations, residential and commercial mortgage-backed securities, limited partnership interests, private company securities, restricted securities and blocks in small capitalization companies, and whole loans. Its trading network of 3,000 market participants includes hedge funds, global financial institutions and private equity firms that collectively manage over $1 trillion in assets available for investment.
SecondMarket also was named winner in the “Enabling Tools and Devices” category, one of six categories in which the companies were designated. SecondMarket and the other AlwaysOn East 100 winners will be recognized at the Venture Summit East Conference at the Mandarin Oriental Hotel in Boston on May 20-22. This executive conference is co-presented by J.P. Morgan and Forbes and will feature presentations and high-level debates from the most influential institutional investors, venture capitalists, corporate buyers, investment bankers and research analysts in the country.
“It’s no secret that technology and innovation are vital to bringing our country out of economic recession,” said Tony Perkins, founder and editor of AlwaysOn. “SecondMarket has created innovative technologies and business processes that help companies and investors with the current economic crisis and provide a sustainable model for the future. I congratulate SecondMarket as well as the other category winners selected for this year’s awards and wish them all tremendous success in the future.”
