ESECLENDING SELECTS EQUILEND FOR SECURITIES LENDING OPERATIONAL SYSTEM INTERFACE
Boston, MA 07 January 2008 – eSecLending announced today that they will add EquiLend to their list of third party operational and administrative system service providers. This enhancement will enable eSecLending to communicate and facilitate operational processing and trade instructions with other EquiLend participant borrower counterparties via an industry standard protocol.
eSecLending plans to go live this month with EquiLend’s administrative and trade processing platforms to include Contract Compare, Dividend Compare and AutoBorrow. These platforms, which are widely used in the Securities Lending industry, will enhance eSecLending’s straight through processing with their borrowing counterparties.
“As our business continues to grow, we remain focused on implementing industry standard solutions to further increase our operational efficiencies and scalability,” said Chris Jaynes, President of eSecLending. “Connecting to the EquiLend platform will facilitate straight-through processing and increased automation with our counterparties, many of whom are existing EquiLend clients.”
“We are delighted to welcome eSecLending to the EquiLend platform. They are a significant addition to our growing list of clients, and demonstrate that EquiLend is a good fit for many kinds of business models within the securities finance space.” says Brian Lamb, CEO of EquiLend.
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For further information, please contact:
Michelle Lindenberger
Equilend
+1 212 901 2224
michelle.lindenberger@equilend.com
Brooke Gillman
eSecLending
+1 617 595 2540
bgillman@eseclending.com
About eSecLending
eSecLending is a leading global provider and administrator of customized securities lending programs and they have grown to become one of the largest lending agents in the marketplace. Their program has been adopted by some of the world’s largest and most sophisticated asset gatherers including pension funds, mutual funds, investment mangers and insurance companies. eSecLending’s approach has introduced investment management practices to the securities lending industry, offering beneficial owners an alternative to the custodial lending model. Through eSecLending, beneficial owners have achieved optimal returns, greater transparency and increased control over their program as compared to traditional lending models.
eSecLending maintains offices in Boston, London and Burlington, Vermont. Securities Finance Trust Company, an eSecLending company, performs all regulated business activities. Additional information about eSecLending is available on the company’s website, www.eseclending.com.
About EquiLend
EquiLend is a leading provider of trading services for the securities finance industry. With its robust suite of automated trading tools, EquiLend enables its clients to scale their businesses with great efficiency on a global basis in all securities finance markets. Used by borrowers and lenders throughout the world, the EquiLend platform automates formerly manual trading and post-trade processes. 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. Firms can then free more resources to expand their business and grow trading volumes without increasing costs. This makes the EquiLend platform a cost-effective choice for all institutions, regardless of their size.
www.equilend.com
EquiLend LLC and EquiLend Europe Limited are subsidiaries of EquiLend Holdings LLC (collectively, "EquiLend"). EquiLend LLC is a member of the NASD and SIPC. EquiLend Europe Limited is authorized and regulated by the Financial Services Authority. All services offered by EquiLend are offered through EquiLend LLC and EquiLend Europe Limited. EquiLend and the EquiLend mark are protected in the United States and in countries throughout the world.
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