Maybank Investment Bank Berhad has partnered with Broadridge Financial Solutions to grow its securities borrowing and lending business.
Maybank Investment Bank Berhad is part of the Maybank Investment Banking Group, the wholly-owned investment banking arm of Maybank, Southeast Asia’s fourth largest bank by assets.
Tengku Ariff Azhar, chief operating officer of Maybank Investment Bank, said: “The combined expertise of Broadridge and Maybank IB resulted in a comprehensive end-to-end platform with trading capabilities, operational efficiency and connectivity. This partnership enabled us to swiftly bring this product to market while adhering to the regulatory framework provided by Bursa Malaysia. We target to be the first in Malaysia to offer Shariah-compliant SBL for retail investors next year.”
Maybank IB will leverage Broadridge’s Securities Finance and Collateral Management (SFCM) solution, providing institutional investors with access to a front-to-back platform that’s also Shariah-compliant.
The platform promises enhanced client experience and better cost management through its automation and straight-through processing (STP) capabilities.
“We are thrilled to strengthen our partnership with Maybank Investment Bank and jointly deliver our securities lending and borrowing service offering, encompassing multi-custody principal and agency trading models,” added Darren Crowther, head of securities finance and collateral management at Broadridge.
A recent tie-up between Broadridge and EquiLend sought to streamline the central clearing of securities finance transactions. The two firms will do so by enabling STP to the National Securities Clearance Corporation’s (NSCC) central counterparty (CCP) for equity securities finance transactions.