An advantage of pooling receivables is the ability to offer debt instruments with varying degrees of risk and return. Instead of passing the average monthly payment of 100 homeowners to 100 bondholders, the bonds can be divided up into risk tranches.
DEFINITION of 'Toronto Stock Exchange - TSX'. The Toronto Stock Exchange (TSX) is the largest stock exchange in Canada. It was established in 1852 and formally incorporated in 1878. The exchange is headquartered on Bay Street in Toronto; it is owned and operated by the TMX Group. TMX is owned by Maple Group Acquisition Corporation.
XLSX is a file extension for an open XML spreadsheet file format used by Microsoft Excel. Microsoft introduced the open XML standard to Microsoft Office in 2007 after a push from business users who saw the value in an open file format for transferring data between application s and other areas of working with the files. Support can also be added to earlier versions of Excel with Open XML component support.