State Street Corporation has partnered with Data Explorers Limited to offer its Performance Explorer product to State Street’s securities lending customers.
Performance Explorer is a secure, Web-based service that allows customers to compare individual results against the aggregated data of a broad, customizable universe of industry peers. All customer data is kept confidential and anonymous. Each week, Data Explorers collects aggregated data on more than 64,000 securities lending transactions for approximately 55,000 securities and more than 4,000 portfolios. Recent figures compiled by the service indicated total lendable assets at almost $4.5 trillion and total on-loan balances at more than $1.3 trillion.
“The securities finance industry is becoming larger, more global and more complex every year and lenders are calling for increasingly sophisticated tools with which to monitor, assess, and manage securities lending programs,” said Edward J. O’Brien, executive vice president and head of securities finance for State Street. “State Street is committed to remaining the global industry leader in securities finance, and market leaders both anticipate and respond to customer demand. We are proud to offer this latest enhancement to our securities lending program and will continue to look for new ways to provide our customers with best-in-class products and services.”