EQUILEND LAUNCHES SECURITIES FINANCE TRADING PLATFORM IN AUSTRALIA
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NEW YORK (Oct. 14, 2014)—EquiLend has received regulatory clearance from the Australian Securities and Investments Commission (ASIC) to operate its securities finance trading platform domestically in the market.
The platform went live for trading among domestic firms on October 8. Trades between Australian entities were executed on the platform from the first day of trading.
Australian securities historically have been traded on the EquiLend and BondLend platform via offshore entities. Post-trade services provided by EquiLend and BondLend were already utilized by domestic Australian market participants.
Brian Lamb, CEO of EquiLend, says: “We are pleased to be able to offer our trading services to domestic firms in Australia, who now have access to the efficiencies and automation EquiLend brings to securities finance market participants around the globe.”
Due to the market’s size and maturity, EquiLend anticipates Australia being one of the most active markets on its platform in the Asia-Pacific region.
EquiLend also launched domestic trading services in the South African market earlier this year, adding to its existing operations in the United States, Canada and Europe. EquiLend is regulated by FINRA in the U.S., IIROC in Canada and the Financial Conduct Authority in the U.K.
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. 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.