The meaningful and successful finalisation of the deal of securitization will be achieved only if other parties are involved in addition to primary parties to the deal. Briefly explain the other parties those are involve

Securitisation is a technique by which identified receivables and other financial assets can be packaged into transferable securities and sold to investors. Besides, the primary participants like the Originator, the SPV(Special Purpose Vehicle), the Investors, the Obligors and the Guarantor/ Credit Enhancement Provider / Insurer, there are other parties involved in a securitization deal are as follows: Rating Agency: Since structured finance deals are generally complex with intricate payment structures and legal mechanisms, rating of the transaction by an independent qualified rating agency plays an important role in attracting Investors. Administrator or Servicer: The Servicer performs the functions of collecting the cash flows, maintaining the assets, keeping records and general monitoring of the Obligors. Agent and Trustee: The Trustee is the manager of the SPV and plays a key role in the transaction. The Trustee generally administers the transaction, manages the inflow and outflow of moneys, and does all acts and deeds for protecting the rights of the Investors including initiating legal action against various participants in case of any breach of terms and triggering payment from various credit enhancement structures. Structurer: Normally, an investment banker acts as the structurer and designs and executes the transaction. The Structurer also brings together the Originator, Credit Enhancement Provider, the Investors and other parties to a deal.