RSP Now SecondMarket
September 22, 2008
Restricted Stock Partners (RSP), operator of a trading platform for restricted stocks, auction rate securities (ARS) and bankruptcy claims, has changed its name to SecondMarket, to "better reflect the direction of its business," said the company. RSP's Restricted Securities Trading Network rolled out in late 2005 as an electronic marketplace for restricted securities and added ARS in March. Through its acquisition of Denver-based Trade Receivable Exchange, RSP began offering bankruptcy claims in June.
"Our marketplace, which will soon extend into additional asset classes, has established itself as a trusted resource for individual and institutional investors who want to buy or sell illiquid assets," said CEO Barry Silbert. The newly rebranded SecondMarket, which has about 50 staffers, also announced that it is moving its New York headquarters to an office with four times the space. "The name change and expansion will help solidify our position as the leader in this space," added Silbert.
