SL-x Plans Securities Lending MTF with Eurex as CCP

SL-x will release a securities borrowing and lending platform in the fourth quarter of 2013 and has chosen Eurex Clearing as its CCP.

The multilateral trading facility (MTF) will launch in 17 European equity markets, and Eurex will centrally clear transactions in Belgium, The Netherlands, France, Germany and Switzerland. In these five markets, SL-x plans to include over 90% of the stocks on loan. Following the initial rollout, SL-x plans to release the platform globally in 2014 and is working with Eurex to extend clearing further in Europe.

“We are very pleased to further expand distribution for the Lending CCP by working with SL-x. Our Lending CCP is widely recognized as industry leading and the first to preserve the special structure of the lending market. It helps banks to reduce the amount of capital they require to run their SBL businesses, enables them to improve operational efficiency, and reduces counterparty credit risk,” said Thomas Book, CEO of Eurex Clearing.