2014’s Top-Earning Equities in Securities Lending

Below is a list of the top-earning equities for securities lenders in 2014. DataLend scanned its universe of more than 42,000 securities on loan to find those securities with the most expensive financing positions in the U.S., Canada, Europe and Asia. Financing costs are determined by taking the total on-loan value of a security and multiplying it by the volume-weighted average fees to borrow that security, then converting the product of those numbers to a dollar value.

We determine the financing costs of all securities per day over the entire year, then add those up and finally select the top 25 that had the highest average financing cost for all of 2014 by region. We then sort the most expensive securities to finance in the securities lending market in descending order.

* Average utilization by quantity across 2014. A high average utilization suggests the security had a high proportion of lendable stock out on loan for an extensive period of time in 2014.

US

Utilization*

1      3D SYSTEMS ORD 93.35%
2      GOPRO CL A ORD 96.77%
3      MYRIAD GENETICS ORD 93.66%
4      MANNKIND ORD 96.35%
5      SEARS HOLDINGS ORD 90.16%
6      DIAMOND OFFSHORE DRILLING ORD 87.89%
7      CLIFFS NATURAL RESOURCES ORD 94.67%
8      VIRNETX HOLDING ORD 90.81%
9      PLUG POWER ORD 90.39%
10    THERAVANCE ORD 91.97%
11     INVENSENSE ORD 94.77%
12     AMTRUST FINANCIAL SERVICES ORD 90.82%
13     ISHARES IBOXX HIGH YIELD BOND ETF 89.94%
14     ISHARES RUSSELL 2000 ETF 86.57%
15     WEIGHT WATCHERS INTERNATIONAL ORD 94.93%
16     OPKO HEALTH ORD 94.53%
17     MINDRAY MEDICAL INTL ADR CL A ORD 82.25%
18     INOVIO PHARMACEUTICALS ORD 95.61%
19     LINDSAY ORD 88.74%
20     TWITTER ORD 28.60%
21     TEXTURA ORD 70.12%
22     MYRIAD GENETICS ORD 94.20%
23     RESMED ORD 92.64%
24     ORGANOVO HOLDINGS ORD 95.80%
25     INTEROIL ORD 95.92%

 

CANADA

Utilization*

1      WESTPORT INNOVATIONS ORD 96.34%
2      CRESCENT POINT ENERGY ORD 52.92%
3      BALLARD POWER SYSTEMS ORD 66.64%
4      ENBRIDGE ORD 36.98%
5      BANK OF MONTREAL ORD 30.42%
6      ROYAL BANK OF CANADA ORD 22.26%
7      ISHARES S&P TSX CAPPED ENGY INDX ETF 97.49%
8      TORONTO DOMINION ORD 22.44%
9      BCE ORD 42.57%
10    POTASH CORP OF SASKATCHEWAN ORD 34.50%
11     LOBLAW COMPANIES ORD 32.36%
12     LOBLAW COMPANIES ORD 88.44%
13     TANZANIAN ROYALTY EXPLORATION ORD 25.67%
14     CANADIAN IMPERIAL BANK COMMERCE ORD 26.61%
15     THOMSON REUTERS ORD 45.91%
16     BANK NOVA SCOTIA ORD 27.61%
17     ROYAL BANK OF CANADA ORD 25.69%
18     MANULIFE FINANCIAL ORD 24.88%
19     BAYTEX ENERGY ORD 62.73%
20     TRANSCANADA ORD 27.96%
21     ARC RESOURCES ORD 37.64%
22     BANK NOVA SCOTIA ORDv 18.68%
23     TEKMIRA PHARMACEUTICALS ORD 56.37%
24     PEMBINA PIPELINE ORD 38.98%
25     SEABRIDGE GOLD ORD 83.38%

 

EUROPE

Utilization*

1      ALLIANZ ORD 12.76%
2      GEMALTO ORD 88.62%
3      SIEMENS N ORD 27.51%
4      TOTAL ORD 19.85%
5      GEMALTO ORD 89.82%
6      BASF N ORD 11.57%
7      DENDREON ORD 95.63%
8      BAYER N ORD 9.82%
9      OUTOTEC ORD 75.75%
10    THROMBOGENICS ORD 76.91%
11     GDF SUEZ ORD 15.05%
12     MUENCHENER RUECKVER N ORD 12.28%
13     LINDE ORD 12.05%
14     ENI ORD 11.82%
15     ALPHA BANK R ORD 36.55%
16     PEUGEOT ORD 36.40%
17     AB INBEV ORD 8.17%
18     SAP ORD 14.51%
19     DEUTSCHE BANK N ORD 12.74%
20     NORWEGIAN AIR SHUTTLE ORD 89.54%
21     QUINDELL ORD 96.03%
22     E.ON N ORD 8.98%
23     VOLKSWAGEN NV PRF 20.19%
24     AXA ORD 10.37%
25     BANCA MONTE DEI PASCHI DI SIENA ORD 85.79%

 

ASIA

Utilization*

1      GUNGHO ONLINE ORD 91.22%
2      ANHUI CONCH ORD H 75.70%
3      EVERGRANDE ORD 80.49%
4      CELLTRION ORD 68.83%
5      HANERGY SOLAR ORD 82.74%
6      GREE ORD 89.83%
7      HUISHAN DAIRY ORD 67.45%
8      SANRIO ORD 89.80%
9      MIXI ORD 96.13%
10    HANERGY TFP ORD 85.10%
11     BYD COMPANY ORD H 62.65%
12     GUNGHO ONLINE ORD 91.92%
13     ACER INC ORD 61.21%
14     SUNART RETAIL ORD 75.92%
15     HSBC STK Q 6.09%
16     HTC CORP ORD 68.59%
17     CATCHER TECH ORD 43.76%
18     CELLTRION ORD 74.01%
19     CHINA COAL ORD H 67.34%
20     PRADA ORD 72.78%
21     ANA HOLDINGS ORD 71.06%
22     MONADELPHOUS GROUP ORD 61.89%
23     SINGAPORE PRESS HOLDINGS ORD 69.25%
24     CHINA CINDA ORD H 51.60%
25     KINGSOFT ORD 74.75%

 

Click here for more information about DataLend’s key features.


THE INFORMATION CONTAINED HEREIN IS PROPRIETARY TO EQUILEND; MAY NOT BE COPIED OR DISTRIBUTED WITHOUT THE EXPRESS CONSENT OF EQUILEND; SHALL NOT CONSTITUTE INVESTMENT ADVICE BY EQUILEND, OR ANY REPRESENTATIVE THEREOF; IS NOT WARRANTED TO BE ACCURATE, COMPLETE OR TIMELY; IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY; IS NOT INTENDED FOR TRADING PURPOSES; AND SHOULD NOT BE CONSTRUED AS EQUILEND MAKING FORECASTS, PROJECTING RETURNS OR RECOMMENDING ANY PARTICULAR COURSE OF ACTION. NEITHER EQUILEND NOR ANY REPRESENTATIVE THEREOF SHALL BE AN ADVISOR OR A FIDUCIARY OF A VISITOR TO THIS WEBSITE. EQUILEND IS NOT RESPONSIBLE OR LIABLE IN ANY WAY TO THE READER OR VISITOR, OR TO ANY PERSON, FIRM OR CORPORATION FOR ANY DAMAGES OR LOSSES ARISING FROM ANY USE OF THE INFORMATION CONTAINED HEREIN. IN CONSIDERING THE INFORMATION CONTAINED HEREIN, A VISITOR TO THIS WEBSITE DOES SO SOLELY IN RELIANCE ON THE VISITOR’S OWN JUDGMENT. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE PERFORMANCE.

Related Posts

Previous Post
FDIC Issues Guidance for the Resolution Plans of Large Banks
Next Post
A revised look at credit risk mitigation for 2015 from the Basel Committee

Fill out this field
Fill out this field
Please enter a valid email address.

X

Reset password

Create an account