Asset Types

Bonds

Financial debt instruments. A relationship in which the borrower — the bond issuer — owes the lender, the bondholder. Coupon and interest payments are made by the issuer from cash-positive-producing assets. Investors purchase these as tradeable securities once issued on primary markets, and bonds are also bought and sold on secondary markets.

Business Development Companies

Developing businesses often seek investor funding during launch, and financially distressed firms look for alternative financing to continue operations. Traditionally, organisations established closed-end mutual funds: a fundraising method using an IPO with no additional shares issued afterward.

Business Development Companies were created by the United States Congress in 1980 to support emerging U.S. businesses in relation to job growth. Most are available to retail investors and can trade publicly on secondary markets once issued.

Commodities

Raw materials carrying representational economic merit. As assets they can be exchanged interchangeably with other goods of similar type or value — fungibility. Traditionally traded using futures contracts; alternatively traded between sellers and investors through smart contracts on alternative trading systems.

Equities

Asset ownership to which additional debts or liabilities may be attached. Equity is calculated by subtracting any debts or liabilities from the original asset value.

FX arbitrage trading

The firm identifies and acts on pricing discrepancies within foreign exchange markets, using market analysis and cross-border execution. This capability sits primarily with SPAE US.

Secured accounts receivable

Legally enforceable, sometimes contractual, claims for payment. Defined as a current asset within financing and usually represented as invoices. Companies sometimes use them to secure a loan through asset-backed lending. Investors find them appealing for their defined return profile as promissory notes.