ICAP plc, the world’s largest interdealer broker, has introduced i-Sec, a new electronic trading platform for securities lending.
i-Sec facilitates screen-based access to the securities lending markets. Initially, equities from France, Germany, Italy, Spain, the United Kingdom and Japan will be available for lending and borrowing on the i-Sec platform, with a view to expanding this product offering.
Four banks are participating in the introduction of the platform.
“The strong growth in securities lending and continued pressure on spreads in the market mean that our customers are looking to increase securities lending efficiency and reduce cost,” said Roy Zimmerhansl, head of electronic securities lending for ICAP. “Electronic trading on i-Sec enables market participants to improve their distribution and leverage their relationships by bringing together multiple sources of supply and demand.”