Debtx is offering institutions direct access to its online loan-trading system, allowing them to put individual loans up for sale without the services of a loan-sale adviser.

Institutions would do that through DXOpen, which the Boston loan-sale adviser developed to address demands from some owners of loans who have the internal capabilities of structuring loan offerings.

"DXOpen will function like an industry utility that sellers can use as their own private liquidity platform to continually offer loans in a competitive bidding format," according to Kingsley Greenland, Debtx's chief executive.

By adopting the platform, institutions can list individual loans or portfolios for sale; allow potential investors access to due diligence information and take offers from them all online. DXOpen also provides details about loan investors' buying patterns, allowing sellers to "better understand the purchasing preferences of investors," according to Debtx.

"DXOpen won't replace loan sale advisors because the overwhelming majority of institutions still need loan sale professionals to successfully complete a transaction," Greenland said. But he added that the platform could be adopted as a complement by sellers who choose not to use Debtx as an adviser or who choose to offer loans without an external adviser.