New York (HedgeCo.Net) – New York Deutsche Bank\u2019s Trust & Securities Services (\u201cTSS\u201d) unit, part of its Global Transaction Banking division, has received Qualified Matching Service (QMS) designation from the Internal Revenue Service (IRS) for its dbRemarket platform.<\/p>\n
The service is designed to provide an independent platform to allow buyers and sellers to avoid protracted negotiations and to streamline the transfer of fund interests. Bidding will be conducted electronically through a reverse Dutch auction. This process increases the probability of a successful sale by allocating the seller\u2019s interests to one or more buyers. DBSI\u2019s role in the process is that of an independent, neutral agent.<\/p>\n
dbRemarket, which provides investors in private equity and hedge funds with a transparent way of effecting the purchase or sale of partnership interests in the secondary market, was launched in June 2011. Partnership interests that transfer via dbRemarket will qualify for the QMS safe harbor, which increases the percentage of interests that can be transferred during a fund\u2019s taxable year from 2% to 10%.<\/p>\n
\u201cWe specifically designed dbRemarket to offer our clients a unique alternative to meet their liquidity needs,\u201d said Kevin Weeks, Global Head of Business Development for Corporate Trust. \u201cBuyers and sellers now have the opportunity to come together in a well-defined auction process to value and trade assets that is designed to ensure speed and accuracy.\u201d<\/p>\n
Alternative investors and fund managers interested in learning more about dbRemarket can visit www.tss.db.com\/remarket<\/a><\/p>\n Alex Akesson New York (HedgeCo.Net) – New York Deutsche Bank\u2019s Trust & Securities Services (\u201cTSS\u201d) unit, part of its Global Transaction Banking division, has received Qualified Matching Service (QMS) designation from the Internal Revenue Service (IRS) for its dbRemarket platform. The service […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-29365","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/29365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=29365"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/29365\/revisions"}],"predecessor-version":[{"id":29367,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/29365\/revisions\/29367"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=29365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=29365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=29365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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