Eurex Clearing has announced that PGGM is the first buy-side client to become a direct participant of Eurex Clearing’s Securities Lending central counterparty (CCP). The development and implementation of a centrally cleared securities lending solution are part of Deutsche Börse Group’s strategy to incorporate new and innovative offerings that assist members to increase capital and operational efficiencies by maintaining and supporting the bilateral, relationship driven characteristics of the securities lending market.
Eurex Clearing’s Lending CCP covers loans in equities and exchange-traded funds in Europe as well as fixed income securities, and has some of the largest providers of financial services to institutional investors and securities lending agents as strategic partners.
Roelof van der Struik, Investment Manager, Treasury Trading & Commodities at PGGM, said: “At PGGM, we believe by connecting to Eurex Clearing, using the full capabilities of EquiLend, the CCP model enables new stock lending structures and business opportunities for beneficial owners as well as helping to manage the rising burden of balance sheet regulation and costs for the securities lending market.”