Tuesday, May 31, 2011

Planetary Alignment

There was a story on the news the other night about a rare occurrence that has allowed astronomers during parts of May to see 6 planets all lined up in a row in the morning sky.

Compared to that, my topic today is just coincidence.

But it IS the case that we “went live” as TRE Buyers on June 1, 2009. We had been lurking and studying for a couple of months before that, but today is the end of our second year of active trading on TRE.

As it happens, we bought our 500th auction today, which is a significant milestone for us.

And to continue the coincidence theme, this is our 100th TRE Observer post.

Two years is not a long time, really. But it’s a big part of the life of the Exchange.

The first auction we bought was #255, which will mean something to those who follow TRE activity.

And, as I write this (at 4:00 pm) we have bought as many auctions so far TODAY as we did in our first MONTH as an active Buyer.

In fact, one of the auctions we’ve bought today was bought from the Seller of our second auction. And today’s auction included one of the same Account Debtors as did that June 2009 auction.

This blog is in the process of analyzing various risks that deserve to be compensated in buying auctions on TRE and, as such, the current conversation inevitably tends toward the negative: concentrating on problems and difficulties. I don’t apologize for that: it’s reasonable and necessary.

But neither would I modify the words of the first TRE Observer post written on May 28, 2009:

“TRE is new and it is far from perfect. It will inevitably be required to make adjustments as experience teaches its operators and its users some valuable (and some potentially expensive) lessons.

All beginnings are hard.

But TRE is a game-changer. It is disruptive.

Those whose businesses face disruption will scoff at first and then resist but they will ultimately adjust to the new reality because they will have no choice.”

Many would have bet at that time that TRE wouldn’t still be around today. They would have been wrong.

Not only is TRE still around but there is another online invoice trading platform about to go live in the US; there is one that is live and growing in the UK; there is one just getting started in Sweden; and, there is one that is live in Germany.

What's that about the highest form of flattery?

Some of these markets might thrive. Some might fail. But my bet is that the idea is here to stay. And that the industry will ultimately adjust to it.

Next stop 1,000!

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