Securities Finance

The US Securities and Exchange Commission on the 2 January 2025 released an order approving FINRA’s proposed rule change. 

Global securities lending revenue totalled $9.64 billion in 2024, marking a 10.3% decline, with drops in equity and corporate debt lending somewhat offset by growth in sovereign debt. 

Our predictions continue as Fidelity Agency Lending, Pirum, Murex, Broadridge and Proxymity give their views on securities lending and proxy voting trends set to impact the industry in 2025.  

This collaboration combines Citi's global agency lending capabilities with Maybank's position in Singapore's securities market. 

This deal is Barings' first venture into middle-market collaterised loan obligations (CLOs) in Europe, a sector that is attracting increasing investor interest due to its potential for yield and diversification. 

The transaction was made with Banque de France; the first repo transaction in digital securities with an Eurosystem’s central bank.

The move builds on the bank’s drive to expand securities lending in the UAE and wider Middle East.

Executives from Brown Brothers Harriman, State Street, and Invesco have been named as the Boston Chapter Leads for the Women in Securities Finance group. 

The project, which involved banks such as HSBC, UBS and Standard Chartered, sought to improve the speed and accuracy of collateral management, while reducing cost and risk.   

Tackling the securities finance industry's numerous challenges – ranging from regulatory constraints to inefficiencies –  was in the past akin to playing ‘whack-a-mole', according to Ben Challice, president and chief strategy officer of Pirum. However, as clients have become more sophisticated, the focus has shifted to a more holistic approach to the trade life cycle.