EQUILEND REACHES RECORD SECURITIES FINANCE TRADING VOLUMES
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NEW YORK (Feb. 12, 2014)—A record number of trades were executed on EquiLend’s securities finance trading platforms on Thursday, February 6.
The record-breaking 28,317 trades, including equities trades on EquiLend and fixed income trades on BondLend, were executed between 65 clients from around the globe. The total value of the trades exceeded $28 billion. The previous record of 27,955 trades was set on Aug. 9, 2011.
Brian Lamb, CEO of EquiLend, says: “The fact that trading activity via EquiLend is exceeding record levels a full 12 years after our launch is a testament not just to the vitality of our systems but that we have been nimble enough to adapt to client needs and market demands throughout the years. ”
EquiLend is currently building out a consolidated platform that covers the full pre-trade to trade execution process. The platform will begin being rolled out this year to clients, who have been working closely with EquiLend on its development.
Ben Glicher, chief information officer of EquiLend, says: “With record volumes flowing through EquiLend today, we anticipate even greater participation as we roll out our new, consolidated trading platform, which will enable a vastly streamlined workflow for traders.”
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.