EquiLend is expanding its securities lending support platform to cover the US Treasury and other public agency securities markets.
Since the Equilend platform was launched in 2002, member-users have used it primarily to conduct bi-lateral securities lending transactions in the equities markets.
“Supporting fixed income, and specifically US Treasuries, makes sense,” says Dirk Pruis, President & CEO of EquiLend. “We, along with our clients, are finding a number of opportunities to leverage the platform and enhance its value by targeting the fixed income market. Our clients have made a commitment to EquiLend. Now it’s our responsibility to make sure they maximize the benefits of their investment. Whether that’s increasing the number of counter-parties on the platform, or leveraging the technology in other areas of their businesses, we’ll do whatever it takes.”
Equilend says a “growing number” of firms – among them Citigroup – are looking to join EquiLend “This makes EquiLend a full-service company, providing trading and operational services to both sides of our clients’ business,” adds Pruis. “Now, any firm that participates in securities lending can consider EquiLend.”
The founding members of Equilend are Barclays Global Investors (BGI); Bear, Stearns; Goldman Sachs; J.P. Morgan Chase; Lehman Brothers; Merrill Lynch; Morgan Stanley; Northern Trust; State Street; and UBS.