HSBC has become the latest bank to sign up to EquiLend.
The bank will use EquiLend’s services in multiple phases, starting with the AutoBorrow, which aims to enable borrowers and lenders to transact equity and fixed income securities in an automated fashion. HSBC will use AutoBorrow first for borrowing and lending in Europe, and then make it available globally.
“The use of automated trading tools is becoming increasingly important to HSBC as we continue to expand our equity finance product,” says Karl von Buren, global head of equity finance at HSBC. “The introduction of EquiLend gives us greater ability to transact with many of the other major players in the market.”
Earlier this month Citigroup also joined EquiLend.
“Having HSBC as a client is a tremendous milestone for EquiLend,” adds Brian P. Lamb, CEO of EquiLend. “Their expansive global business in numerous markets makes them a valuable addition to our already robust client base.”