The Central Bank of Ireland has approved EquiLend’s Dublin-based securities finance trading platform to operate.
The launch of the Irish multilateral trading facility (MTF) will allow European-based clients to continue trading on the platform without the interruption of the UK’s exit from the EU.
“Our approval by the Central Bank of Ireland allows us to continue offering our valued global clients access to EU securities finance markets via our world-class trading platform NGT,” said Brian Lamb, CEO, EquiLend.
The Irish MTF will operate alongside EquiLend’s exist UK MTF, which is regulated by the Irish Financial Conduct Authority (FCA).
EquiLend recently made a number of enhancements to its flagship Next Generation Trading (NGT) platform, and in February partnered with technology vendor StoneWain to integrate its range of trading, post-trade and data services.
By leveraging Stonewain’s Spire system, EquiLend will allow clients to replace all or part of their legacy securities lending technology.
NGT has become the most-used platform in the securities finance industry, with an average of $80 billion notional on average being transacted on NGT every day.