Wall Street Journal Names The Receivables Exchange Most Innovative E-commerce Company in the World for 2010

The Receivables Exchange, the world’s first online marketplace for real-time trading of accounts receivable, announced today that it was named the winner in the e-commerce category of The Wall Street Journal’s 2010 Technology Innovation awards, which recognizes the most important innovators in technology worldwide. The Receivables Exchange has been called a game-changer that delivers efficient access to capital through standardization, transparency, centralization and competition.

“This is the first time since 2004 the Journal has honored an e-commerce innovation,” said Wall Street Journal News Editor John M. Leger, who oversees the Innovation Awards. “The judges felt The Receivables Exchange provides an extremely important service to small and midsize businesses, especially given the changing credit landscape.”

The Receivables Exchange is transforming the business financing landscape by allowing small and midsize companies to sell their receivables to institutional investors, who compete in real time to purchase the receivables for 98 to 99 cents on the dollar, on average. The competitive auction format drives down the cost of capital for Sellers and allows them to gain access to a flexible, affordable funding source. For institutional investors, the Exchange allows them to diversify their portfolios by investing in a new $17 trillion U.S. receivables market. In the first half of 2010, receivables trading volume on the Exchange grew by more than 300% as of July 31, 2010.

“The Wall Street Journal Technology Innovation award is one of the most coveted awards globally in technology,” said Justin Brownhill, co-founder and chief executive officer of The Receivables Exchange. “We are honored to be selected by such a distinguished panel of international experts and industry leaders. As we continue to grow the Exchange into the most trusted capital marketplace for small and midsize companies, we will maintain our commitment to the innovation and performance of our online receivables marketplace to help businesses increase liquidity and drive growth.”

“The Receivables Exchange is changing the way businesses access working capital in the 21st century,” said Nic Perkin, co-founder and president of the Exchange. “We are tremendously honored to be recognized by The Wall Street Journal for our efforts to bring small businesses access to a flexible and affordable source of capital. With this honor, even more companies will learn how our innovative auction model can help them optimize their financial performance and fuel growth.”

An award committee of editors from The Wall Street Journal, widely considered the world’s leading business and financial publication, looked at more than 600 applications from companies worldwide as a part of its deliberation process. The committee then selected a subgroup of finalists according to three sets of attributes: technological achievement that will be able to break through conventional ideas, companies or products that go beyond marginal improvements on existing technology and innovation that will significantly impact future technology. A global panel of independent judges selected the final winners. Seventeen companies worldwide were named winners, with additional runner-ups in some categories.

The Receivables Exchange has been called a financial game-changer by many industry experts, and was recently cited in a Morgan Stanley B2B finance report as a new capital marketplace to help companies optimize their financial performance