EQUILEND AND BONDLEND TO LAUNCH NEW SECURITIES FINANCE TRADING PLATFORM
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NEW YORK (Wednesday, October 16, 2013)—EquiLend and BondLend have kicked off the development of a new consolidated and streamlined securities finance trading system covering the full pre-trade to trade execution process.
The new platform is expected to be rolled out to clients beginning in 2014.
In addition to a new user-friendly interface enabling a streamlined workflow for traders, the new platform will provide a venue for bilateral trading of general collateral, warm and hot securities while allowing clients to maintain control of execution decisions.
Brian Lamb, CEO of EquiLend, says: “EquiLend has been at the forefront of automating securities finance trading for more than a decade. We were built by the industry for the industry, and we evolve as industry needs evolve. We expect this new platform to usher in the ‘next generation’ of securities finance trading, serving as a single portal for all of the industry’s trading needs.”
The new platform will integrate features clients are familiar with on existing EquiLend and BondLend platforms—including the real-time inventory postings of Availability, the low-touch borrowing and lending services offered by AutoBorrow, the warm and hot trading capabilities of Trade2O and the global securities finance market data of DataLend—all on a unified platform.
The platform also will include Web Services, trading screens, extended availability fields and additional AutoBorrow fields, as well as capturing the full “conversation” of a trade, including indications of interest, chat and counter-offers.
Dow Veeranarong, vice president of Product Strategy at EquiLend, says: “We are constantly in discussions with clients about how to bring new efficiencies to the securities finance trading process for both lenders and borrowers. The new EquiLend and BondLend trading platform will allow lenders to increase utilization of their books and borrowers to improve their execution efficiency. It brings added transparency into the entire trading process by consolidating trading services into a single, comprehensive, integrated platform, from front to back.”
EquiLend is a leading provider of trading and post-trade services for the securities finance industry with offices in New York, London, Hong Kong and Toronto. EquiLend is backed by 10 global financial institutions: BlackRock, Credit Suisse, Goldman Sachs, J.P. Morgan Clearing, J.P. Morgan, Bank of America Merrill Lynch, Morgan Stanley, Northern Trust, State Street and UBS.
Used by securities borrowers and lenders globally, the EquiLend platform (for equities) and BondLend platform (for fixed income) automate formerly manual trading and post-trade processes in the securities finance industry. Using EquiLend's complete end-to-end services reduces the risk of potential errors and eliminates the need to maintain costly point-to-point connections while allowing firms to drive down unit costs. DataLend, the securities finance market data division of EquiLend, provides highly cleansed and standardized securities finance data covering all asset classes, regions and markets globally.