Trust can also be used in securitisation transactions, where in an economic sense it is the managed asset but in a legal sense it is the beneficiary possession that is securitised. As a result, an asset which is hard to market by its nature (e.g. a large or valuable item which is therefore not negotiable, or a membership right in company form which is subject to prohibition on security issuance) can be made negotiable and the beneficiary position of the business trust can be made transferable. In practice, the use of securitisation in trust means that the settlor puts the asset, right or claim to be sold into trust, issues a security in cooperation with the trustee pertaining to the beneficiary position and markets this security. The collateral for the security is the managed asset, while the success of the asset management is guaranteed by the expertise of the trustee and a closed system of rules for operation.