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title: NYSE Partners with TRE
description: NYSE Partners with TRE
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[TRACE Turns 20](https://articles.marketsmedia.com/trace-turns-20)

 09.14.2011

 By Terry Flanagan

 Platforms

# NYSE Partners with TRE

 09.14.2011 By Terry Flanagan

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The Big Board has entered into a partnership with The Receivables Exchange, giving its listed companies a new option for borrowing cash.

 NYSE Euronext has announced that it has entered into a joint initiative with The Receivables Exchange, under which the exchange giant will be able to offer its listed companies access to short-term capital solutions.

 “Partnering with an iconic brand can only create positive benefits for a company like ours,” said Nic Perkin, president of TRE. “We are looking to establish trust and credibility in the marketplace. From this partnership we will see an increase in volume and an increase in brand reputation.”

 “Our alliance with TRE adds to our growing portfolio of issuer services and provides our listed companies affordable and continuous access to working capital,” said Scott Cutler, NYSE Euronext executive vice president and head of NYSE Listings in a release.

 Under the deal, NYSE will also acquire a minority stake in New Orleans-based TRE. Additional terms of the investment were not disclosed.

 TRE’s Corporate Receivables Program is an electronic marketplace for the purchase and sale of corporate accounts receivable, which first went live in November 2008. Working under an auction model, the marketplace allows companies to monetize their receivables through the sale to institutional investors. The U.S. receivables market is estimated to be worth about $17 trillion. Users of the exchange can access capital in as little as one day, compared to the typical remittance term of 48 days or more.

 “The concept of accessing working capital through sale of receivables is a concept that is long overdue,” said Perkin. “It’s a flexible and elegant solution, and provides efficient price capital to small, medium and large corporations. We’re expecting tremendous things out of this partnership.”

 NYSE also announced the appointment of Paul DeDomenico as head of Global Corporate Receivables Programs. DeDomenico joins NYSE from GE Capital, where he last served as chief executive officer of its Working Capital Solutions unit. During his 23-year tenure with GE, he oversaw the growth of the WCS unit from the startup phase to $10 billion in assets.

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