An article by Dubey and Partners, Advocates Securitisation, per se, is a transaction in "instruments", which represents cluster of assets/receivables of identical nature, having a steady flow of income and thereby giving greater liquidity to the instrument representing it. Historically, it has been developed as a "mechanism", to club smaller streams of incomes, regular and steady in nature and represent them through "instrument(s)", which then could be placed in the market either for the public at large or to institutions, to raise funds at a higher level. Securitisation is primarily a "structured finance instrument" that balances the risk-return needs of the investors. Therefore, the terms ‘securitisation’ and ‘structured finance’ are almost used interchangeably in practice.
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