San Juan, Puerto Rico (PRWEB) October 29, 2015
BLOXTrade, the world’s largest tax lien brokerage firm, announces that sell-side brokerage is free as of November 1, 2015.
Founded in 2012 by the creators of the first tax lien secondary market at GFI Group, BLOXTrade charges commissions to buy, sell, and clear portfolios of tax liens in 30 states.
On Monday Tom McOsker, CEO of Puerto Rico-based BCMG who owns BLOXTrade, confirmed the importance of corporate agility in a changing marketplace. “BCMG understands that with increased competition for liens, aggressive lending, and a trend towards securitization, our clients are facing thinning margins,” Tom continued to add that “In response to these trends, BLOXTrade has decided to eliminate sell-side brokerage fees. We appreciate our clients’ continued support, and look forward to serving the marketplace more competitively than ever.”
The BLOXTrade platform allows clients to access blocks (blox) of tax liens through their online account, along with market and lien-level data. Clients analyze the potential investments and then place bids on blox in the marketplace through BLOXTrade’s San Juan, Puerto Rico trading desk. BLOXTrade brokers use their deep network of investors to match buyers and sellers.
According to the National Tax Lien Association Executive Director Brad Westover, "BCMG's latest move to cut out the sell-side commission will most likely create quite a buzz. I would expect their listing volume to increase dramatically." While sell-side brokerage fees have been eliminated, buy-side brokerage fees still remain at 1.5%.
Headquartered in San Juan, Puerto Rico, BLOXTrade is a dynamic market built for listing, trading, analyzing, and serving esoteric asset classes that trade in pools, or blocks (blox). It’s an intelligent, global network connecting fund managers, investors, lenders, and service providers through our hybrid platform that balances a manager’s need for privacy and control with investor and lender need for transparency and liquidity. BLOXTrade delivers unique features to make navigating and transacting in the tax lien marketplace easier than ever—from managing secondary liquidity to raising primary capital. No other company provides the personal service, technology, data, insights and expertise you need, all in one place. For more information, call (646)-568-3240; email TradingDesk(at)bloxtrade(dot)com; or visit http://www.bcmg.co/our-family-of-companies/bloxtrade/
BCMG is a family of companies, providing funds, investors, governments, and service providers with essential tools to grow their tax lien business. Visit http://www.BCMG.co.