EquiLend has onboarded six new counterparties to NGT, its multi-asset class digital trading platform for securities finance: MUFG’s online securities company au Kabucom Securities, BBVA’s Banco Bilbao Vizcaya Argentaria, Desjardins Trust, Leonteq Securities, SMBC Nikko Securities, and Union Investment Privatfonds.
BBVA is the first Spanish counterparty on NGT and represents a new market for the platform. New Japanese counterparties au Kabucom Securities and SMBC Nikko Securities join numerous lenders and brokers from this growing market on NGT. Desjardins Trust, Leonteq and Union Investment further extend NGT activity in North America and Europe.
Brian Lamb, CEO of EquiLend, said in a statement: “Each new joiner to NGT can now tap into the global securities finance marketplace more efficiently than ever before and leverage the vast benefits of our digital trading platform. Furthermore, the market as a whole will experience enhanced liquidity with the addition of new borrowers and lenders on the platform.”
NGT, which launched in 2015, has centralized access to liquidity and increases trade-level transparency, improves workflow automation and generates efficiencies market wide. Average daily transaction notional on NGT surpassed $100 billion in Q1 2021 across more than 100,000 trades each business day.