Author Topic: Why Folio?  (Read 3567 times)

Bilgefisher

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Why Folio?
« on: November 03, 2011, 02:47:14 PM »
With all the issues with using Folio, why have prosper and lending club not switched to another platform?

DiligentiaLLC

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Re: Why Folio?
« Reply #1 on: November 04, 2011, 07:04:40 PM »
Great question. I would like to take it a step further and ask, "Why don't each platform bring the trading of their own notes in-house instead of trying to find a Folio replacement?"

phanio

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Re: Why Folio?
« Reply #2 on: November 06, 2011, 07:40:03 PM »
Agree - why not create a system based on the way their customers use their site or based on their needs.  Can't be that hard to do.

Peter

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Re: Why Folio?
« Reply #3 on: November 07, 2011, 11:19:22 AM »
These are good questions. I think both Lending Club and Prosper would love to bring the trading platform in house but the SEC will not let that happen. Apparently they are forbidden to issue the security and then allow trade in that same security.

As for why Foliofn and why not another platform I have asked that question of both companies. It seems that Folio was simply the best option - the volumes are not sufficient to bring some of the bigger securities trading platforms into play and so Folio was the best choice for both companies. As for why it is not better - apparently there are also restrictions here based on FINRA regulations. Not sure exactly what they are but the Lending Club people seemed to think these things were preventing a better system.
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