BNY said the transaction represents a major new route to market for its securities lending clients without the need to set up direct clearing membership.
Tag: securities lending
IHS Markit, Pirum Systems and Rabobank ran the test for reporting securities financing transactions to DTCC's trade repository.
Move away from third-party provider reflects growth in automation.
The partnership will enable Standard Chartered to provide agency securities lending to both custody and non-custody clients.
Experts say some firms could leave the market temporarily or permanently due to incoming securities finance regulations.
The partnership highlights a growing trend of Asian asset managers turning to securities lending as an additional source of income.
The solution is currently being used by a number of clients including a tier-one global investment manager.
The approval will allow European-based clients to continue trading on the platform without the interruption of the UK’s exit from the EU.
The ASIFMA paper suggested allowing investment managers and their lending agents, often global custodians, to carry out securities lending in the markets.
IHS Markit has hired the former head of agency lending sales, EMEA at JP Morgan in a new role focusing on services to beneficial owners.