SecFinex, the online marketplace for securities finance, conceded today that the weak equity lending markets were not an easy environment in which to revolutionise a marketplace. The firm announced that it had completed a restructuring program that aims to “allow it to continue operating in the current difficult financial markets.”
As part of the re-shaping, SecFinex is adding fixed income bonds to its trading platform. The instruments covered will include government, corporate and convertible bonds from all major markets. In addition, the Japanese equity market and further European equity markets will be added to SecFinex’s six existing European equity markets.
However, it was not all gloom. SecFinex announced simultaneously that two new customers had been signed up, taking the total number of participants to 35. John Oddie, CEO at SecFinex explained: “We look forward to expanding our product offering to our customers, which will allow them to receive the benefits of SecFinex over a broader range of their portfolios. We have implemented a careful restructuring programme that will enable SecFinex to continue to deliver a high quality service to our clients.”