Klemperer's auction design for toxic assets

Over at voxeu.org, Paul Klemperer writes about Central bank liquidity and “toxic asset” auctions, which describes briefly his paper

Klemperer, Paul (2009). “The Product-Mix Auction: A New Auction Design for Differentiated Goods”.

In his Voxeu post he says "The product-mix auction yields better “matching” between suppliers and demanders, reduced market power, greater volume and liquidity, and therefore also improved efficiency, revenue, and quality of information than feasible alternatives. Its potential applications therefore extend well beyond the financial context."