Borrowers don't like it. But securities lenders are increasingly intolerant of a risk they run when lending stock missing dividend payments or other corporate actions with real value, such as takeover and redemption offers. Every agent lender, blamed by an
Bayerische Landesbank and ING BHF Bank have become market makers on EuroCredit MTS, taking the number of participants on the system to 24. 21 Market Makers as well as three dealers (or "market takers") now participate on EuroCredit MTS. Euro
TradeWeb, the fixed income trading platform, announced today that its Euro Commercial Paper (ECP) Live Beta test period was completed successfully. The new ECP product has now gone live, with the initial week's trading reaching just under Euros 1 billion.
SunGard Securities Finance has been quick to respond to the Securities Industry Association's recommendation for new standards in automating the recall process in the securities lending industry. The SIA has called for software vendors to establish electronic recall management services,
Wells Fargo announced today the launch of Securities Lending Reporting, a new service that allows participants in its securities lending programmes to access information on their open loans on line, via the bank's Commercial Electronic OfficeSM (CEOSM) business portal. The
BrokerTec Futures Exchange (BTEX), the US fixed income futures exchange, announced today that a decrease in the minimum tick size on the five year Treasury note contract will be implemented as of Friday, February 14, 2003. At that time, the
The MTS bond trading platform announced today that it had awarded the contract to shape the design of its fixed income database to the ISMA Centre at The University of Reading in England. This followed an RFP from MTS. MTS
The London based Investment Management Association (IMA) today published its response to the Financial Services Authority (FSA) discussion paper on Short Selling (DP17). The Association says it agrees with the emphasis on greater transparency of short selling in the market
The year ahead for the equipment asset backed securities industry will be one of modest growth, with 2003's total issuance predicted at $9.3 billion over 2002's $7.3 billion. Public issuance volume will return to its 2001 level of approximately $6.9