SecFinex, the online marketplace for securities finance, announced today that it had introduced Dutch equities to its on-line securities lending trading system. They join French, German, Irish, Italian and UK equities.
In addition, six firms have signed up to use the SecFinex system, bringing the total number of firms signed up to use the system to 30. The new users include Citibank, Fortis Bank, and HypoVereinsbank.
“We have added the Dutch equities market to SecFinex both because of the size of the market as the sixth largest equity market in Europe and to support the activities of our customer base which with the addition of Fortis now includes four Dutch institutions,” says John Oddie, Chief Executive Officer at SecFinex said: .The addition of these six active securities finance participants will increase the benefits to all users of the SecFinex system.”
SecFinex allows participants in the Securities Finance market to streamline and automate routine business processes such as security searches and general collateral trades. These can be integrated into proprietary systems to facilitate straight through processing. Securities borrowers and lenders can also anonymously post, negotiate and agree stock loans and borrows, replacing their previous time consuming contact by phone, fax and e-mail. SecFinex also allows lenders to create and run auctions of single equity securities in a real-time environment on line.