27 September 2012
The biggest change to the equity lending survey this year was a hugely expanded technology section
Read more: EquiLend Pirum 4sight SunGard
For the first time, borrowers and lenders were asked to rate their technology providers across a wide range of service categories. All survey respondents were asked to rate four types of technology provider: trading platform; post-trade service; collateral management system; and data provider.
Respondents were asked to rate these providers across ten service categories. Seven of these categories were the same for each of the four provider types and three categories were unique to each. The responses of borrowers and lenders are mixed together and presented in an overall table for each technology provider type.
For all four technology types, firms needed at least ten responses to qualify. In previous years, firms were simply asked to cast a vote for the technology firm in each of three categories.
4sight Securities Finance polled first for its collateral management system in the overall table, scoring especially highly for: ability to tailor system/service; collateral haircut; innovation; user interface; client reporting functionality; collateral optimisation; ROI cost efficiency; ease of integration; and strength of securities lending. SunGard Apex/Global One/Loanet came second. This was a new category this year.
In the data provider voting, SunGard Astec Analytics Intraday achieved pole position. It owed this to top rankings in the following service categories: ability to tailor system; client service; innovation; user interface; day-to-day; reliability; client reporting functionality; ease of integration; and ROI cost efficiency.
Markit Securities Finance (formally Data Explorers) finished second, relinquishing its winning spot from last year.
EquiLend Global Trading Services finished top among trading platform providers, dominating every category: ability to tailor system; ease of integration; order management; user interface; client reporting functionality; footprint; reliability of platform; client service; innovation; and ROI cost efficiency. Sungard Apex/Global One/Loanet was second and 4sight Securities Finance third. EquiLend also won the equivalent prize last year.
However, EquiLend’s victory in the posttrade service space was less emphatic, winning by a margin of only 0.06. It scored highly for user interface, footprint, reliability, client service, innovation and ROI cost efficiency. But Pirum Classic Service was considered best for client reporting functionality, ability to tailor system, ease of integration and order management.
It should be noted that lenders placed Pirum ahead of EquiLend in post-trade service, while borrowers considered EquiLend best. SunGard Apex/Global One/Loanet was third. The award was a new addition to the survey this year.