The securities finance division was one of the worst performing business units for State Street in 2018.
The new system will integrate its trading, post-trade and data services, as well as its flagship Next Generation Trading (NGT), on a single platform.
The expansion builds on Pirum's existing real-time connectivity to the four international tri-party agents.
Six banks have confirmed they have started the onboarding process and will join the platform at launch date, expected to be in the first half of 2019.
Nine banks join IHS Markit’s design team to collaborate on Securities Financing Transaction Regulation (SFTR) reporting service.
PGGM is the first pension fund manager to centrally clear repos at German exchange group Eurex.
The year was a record in terms of revenues for beneficial owners, with more securities lending activity shifting to the front-office.
The two associations found that post-crisis regulations have had a profound impact on banks’ SFT businesses and could detrimentally impact the securities lending market.
Major investment banks including Citigroup and JP Morgan sign up to use the Eurex clearing profit scheme for repo as Brexit looms.
Foreign investors look for short-selling and securities lending capabilities above other market structure features when analysing emerging markets.