State Street processes $140 billion of client-cleared repo transactions
State Street expects buy-side clearing of repo financing to increase significantly among mutual funds and money markets funds in the US.
Securities Finance
Trade associations band together to create SFTR and EMIR master reporting agreement
The standard agreement template will be used for both mandatory and delegated reporting of securities financing and derivatives transactions.
Northern Trust rolls out machine learning tech for securities lending
Northern Trust will leverage machine learning to project demand for equities in the securities lending market and grow revenues.
Securities lending lawsuit against Wall Street banks dropped
The lawsuit accused the six banks and their prime brokerage divisions had colluding to ‘boycott’ an electronic securities lending trading platform.
Clients of MarketAxess and EquiLend begin SFTR testing
Both companies are looking to get clients ready for SFTR reporting in advance of the 2020 deadline.
Securities lending dampens BNY Mellon’s asset servicing revenues in Q2
The decline means another disappointing quarter for the world’s largest global custodian as asset servicing revenues fell 8% year-on-year.
Delta Capita, IHS Markit and Pirum aim to standardise SFTR testing
IHS Markit and Pirum will make available Delta Capita's SFTR test pack to its clients to support and standardise testing.
JP Morgan bolsters APAC securities lending division with new trading head
Hire in Hong Kong sees JP Morgan tap BNP Paribas Securities Services for new APAC head of agency securities lending trading.
Hedge fund Citadel executes cleared cash and repo trades through DTCC
DTCC recently broadened the category of market participants accessing the Fixed Income Clearing Corporation’s (FICC) cleared repo service.
UnaVista adds 25 technology vendors to SFTR partner programme
Partner firms signed up for UnaVista's SFTR trade repository include Calypso Technology, EquiLend, IHS Markit, MarketAxess, Trax and Murex.