- Monthly revenues continue to decline, marking a low for 2023
- Asia revenues grow year-over-year (YoY) but are pulled lower month-on-month (MoM) by Japan and South Korea
- Europe, Middle East and Africa (EMEA) revenues climb higher MoM but post a 50% decline YoY
- Government and corporate bonds post their lowest monthly revenues of 2023 so far
Securities lending activity generated $879 million in revenues during the month of November, marking the lowest revenue producing month of the year so far. Revenues declined 13% YoY and 2% MoM. Revenues declined YoY across most asset classes, with only APAC equities (+3%) and ADRs (+18%) bucking the trend. EMEA equities continued to see a sharp decline in activity with revenues declining 50% YoY despite an increase led by seasonal activity of 15% MoM.