ABF Journal contributing editor Howard Brod Brownstein catches up with Bos Smith, managing director, business development at The Receivables Exchange (RecX), an electronic exchange for the sale and purchase of accounts receivable. In association with NYSE Euronext, RecX connects large corporate sellers of receivables with diversified sources of liquidity, including banks, family offices and asset management funds. Transactions over RecX are structured to result in a “true sale” of the receivables, thus offering balance sheet benefits to sellers and attractive risk-adjusted returns to buyers.