EquiLend, the securities lending cartel formed in May 2001 by the major agent lenders and prime brokers, will use Radianz as preferred connectivity supplier.
EquiLend – whose founding members include Barclays Global Investors, Bear Stearns, Goldman Sachs, J.P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley, Northern Trust, State Street, and UBS – is giving participants the option to connect to its platform via RadianzNet.
“RadianzNet enables EquiLend to provide an efficient and cost-effective means of connecting to our platform for new participants,” explains Ben Glicher, chief technology officer for EquiLend. “RadianzNet already reaches many institutions that seek to use our service, which means they can utilize existing RadianzNet connectivity to access our platform. This reduces the cost of delivery, accelerates our time to market, and reduces barriers for new participants.”
Chris Church, executive vice president and head of Global Sales and Marketing for Radianz, added: “We are very excited to have EquiLend join the more than 100 other providers that are using RadianzNet to give institutions worldwide access to their applications and content. EquiLend is an important customer because it provides essential end-to-end functionality and straight-through processing to a very important business within many of our significant customers. We are pleased to provide access to EquiLend’s participants.”