Private doesn’t have to mean illiquid
Asset-level price discovery for institutional private credit.
Built and operated by Percent, which has syndicated, settled and serviced private credit at the loan level since 2018.1
Put a loan in front of buyers without putting it on the street
Run a competitive process
Take one loan or a whole portfolio to private auction and set the rules yourself. Bids are non-binding indications of interest.2
Discreetly test liquidity
Get ahead of real liquidity needs by consistently testing and obtaining indicative market clearing levels.2
Confidentially expand counterparties
More institutions on PCTX means more buyers you can approach without tipping the market.
You control what a counterparty sees and when they see it
The market sees enough before deciding to meaningfully engage.3
Choose your private credit exposure loan by loan
Peruse open listings
See new loans as they’re listed for sale and start a conversation with the seller.
Set investment preferences
Filter and get notified on only the listings that fit your mandate.
What happens after you upload a loan
Upload positions to attach identifiers and create listings
Trading protocols that bring buyers and sellers together anonymously
Controlled disclosure to reduce the time and cost of price discovery
Settlement coordination and servicing handoffs
Talk to the people building PCTX
Tell us what you want to offer or buy, and we’ll set up a time. Institutional participants only.
Or email info@pctx.com.
- 1This history refers to Percent's primary syndication platform. It does not guarantee trading volume, liquidity, or execution on PCTX, a secondary trading venue.
- 2Bids and offers on PCTX, including auction bids, published mandates, and offers-wanted lists, are non-binding indications of interest (IOIs), not firm orders. Indicative clearing levels do not constitute formal GAAP valuation marks.
- 3Full material credit documentation must be made available to approved counterparties before a binding contract is executed. Transaction data remains subject to regulatory audit trails and reporting obligations, including Rule 17a-4 under the Securities Exchange Act of 1934.
- 4PCTX is an institutional trading venue. Participants are solely responsible for conducting independent credit evaluation, valuation, and due diligence prior to trading. Percent and its affiliates, including affiliated funds, may act as originators, buyers, sellers, or managers of debt listed on PCTX, and their interests may conflict with those of other participants.
PCTX is operated by Cadence Group, Inc. d/b/a Percent Technologies. PCTX does not permit or facilitate transactions in securities. PCTX is an affiliate of, but separate from, Percent Securities, LLC, a registered broker-dealer and member of FINRA and SIPC. PCTX is not operated by Percent Securities, LLC, does not provide brokerage or investment advisory services, and is not registered as a broker-dealer, investment adviser, national securities exchange or alternative trading system. Transactions pursued through PCTX are not securities, are not brokerage transactions, and are not eligible for SIPC protection.
PCTX permits only preliminary, non-binding indications of interest concerning eligible private credit assets that are not securities. PCTX does not accept, route, match or execute orders; negotiate or confirm transactions; or provide custody, clearing, funding or settlement. Any transaction is negotiated, documented and completed bilaterally outside PCTX.
PCTX is available only to approved users who are qualified purchasers or qualified institutional buyers. See the Terms of Use, Privacy Policy and Important PCTX Disclosures.
The information and materials contained on this website regarding PCTX are provided solely for informational purposes and are intended exclusively for Qualified Institutional Buyers (“QIBs”) as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the “Securities Act”). Nothing on this website constitutes an offer to sell, or a solicitation of an offer to buy, any security, financial instrument, or service in any jurisdiction. Materials published on this site regarding PCTX are not intended for distribution to, or use by, the general public or retail investors.