Quadriserv, Inc. announced that 26 financial institutions have recently been approved as Members of the AQS securities lending platform. AQS is operated by Automated Equity Finance Markets, Inc., a wholly owned subsidiary of Quadriserv. AQS, through its relationship with The Options Clearing Corporation (“OCC”), has created a centralized marketplace for securities lending transactions in the U.S., and plans to expand into the European market through its relationship with Eurex Clearing.
New AQS Member firms include, among others:
BofA Merrill Lynch Calyon Securities (USA) Inc. Citigroup Global Markets, Inc. Interactive Brokers LLC ITG, Inc. Jefferies & Company, Inc. Mitsubishi UFJ Securities (USA), Inc. Newedge USA, LLC Pershing LLC
Susquehanna Financial Group, LLLP Virtu Financial BD, LLC Wedbush Securities, Inc.
“Demands for greater transparency and efficiency in the securities lending market have led to expanded interest in Quadriserv’s AQS securities lending marketplace, says Gregory DePetris, co-founder of Quadriserv. This industry momentum, together with AQS’ successful launch, enables us to shift our focus to welcoming additional agent lenders and hedge fund customers on to the platform. These firms will join the impressive roster of Members we have announced today in diversifying our customer base and adding liquidity to the platform. Building on this success, we are pleased with the institutional support we have attracted, and expect additional Members to join their ranks in the coming months.
“As the securities lending market continues to embrace a centralized trading model, we believe the quality of our proven technology, strategic industry alliances, and institutional support will serve to further enhance liquidity and broaden market participation.”
“We are very pleased to be a Member of Quadriserv’s AQS marketplace, and believe it will be well-received by our clients, says Sylvan Chackman, co-head of Global Markets Financing & Futures at BofA Merrill Lynch. Specific AQS benefits, including additional securities lending options, capital efficiencies and transparency are emerging as key considerations in the marketplace, and we are confident that our clients will benefit from this important complement to our existing prime brokerage services.”
D.C.