One idea for rebuilding the specials market in securities finance (Premium)

July 25, 2019

Hedge Funds, Prime Brokerage, Securities Lending

Agent Lenders, hedge funds, prime brokers, Securities Lending, topstory

Prime brokerage and agency lending revenues in Q2 2019 are both down significantly from the prior year. Part of the reason is Federal Reserve risk-off rate decisions that are propelling…

ISLA leads overhaul of securities lending performance measurement (Premium)

July 17, 2019

Anna Reitman

Securities Lending, topstory

Agent Lenders, benchmarking, Beneficial Owners, data management, data vendors, fund management, topstory

No Comments

At this year’s annual FISL NY conference, one of the hot topics was measuring securities lending program performance when compared to peers. This topic also featured during ISLA’s (International Securities…

The agent lender queue may no longer be in the client’s best interest (Premium)

June 19, 2019

Josh Galper

Securities Lending

Agent Lenders, Beneficial Owners, queue, Securities Lending, topstory

No Comments

The queue methodology maintained by securities lending agents has long been the main way that agents show their clients that they are being treated fairly. The queue determines which clients…

A methodology for measuring the impact of fund fees in securities lending using public data (Premium)

June 3, 2019

Josh Galper

Securities Lending

Agent Lenders, mutual funds, performance, Securities Lending, topstory

No Comments

For US mutual funds and ETFs, much has been made of Statements of Additional Information (SAI) data showing what percent each complex returns of its securities lending revenue to its…

We ballpark the value of prime broker internalization of securities lending inventory (Premium)

March 29, 2018

Josh Galper

Prime Brokerage, Securities Lending

Agent Lenders, data vendors, internalization, prime brokers, Securities Lending, topstory

No Comments

Data on securities lending has evolved from nothing to being pretty reliable – users can find trading rates on tens of thousands of securities for both securities loans and repo…

FISL in NYC: change is the only constant

April 6, 2017

Anna Reitman

Events, Finadium Event

Agent Lenders, Big Data, blockchain, Direct Borrowing and Lending, Direct repo, distributed ledger technology, hedge funds, Lending CCP, peer to peer, securities finance revenues, technology, topstory

No Comments

The only certainty about securities finance is that the market is going through a major transformation. And though regulations may have been the driver for adopting technology to tackle the…

Our data on securities lending agents' assets on loan (Premium)

May 19, 2016

Josh Galper

col4, Collateral Management, Securities Lending

Agent Lenders, assets on loan, Securities Lending, topstory

No Comments

Following the publication of “Securities Lending Agents on Prime Broker Borrowers: A Finadium Survey,” we received a question about how we calculated the data for changes in agent lender balances…

Report highlight: securities lending agents on banks sharing balance sheet benefits in loan fees (Premium)

May 12, 2016

Josh Galper

Basel III, CCP, Collateral Management, Prime Brokerage, Securities Lending

Agent Lenders, CCPs, prime brokers, Securities Lending, topstory

No Comments

As banks work to optimize their balance sheets, agent lenders are a source of possible assistance. The conversation is all about collateral and term: what collateral will agents accept on…

Securities Lending Agents on Prime Broker Borrowers: A Finadium Survey

May 11, 2016

Josh Galper

CCP, Collateral Management, Securities Lending

Agent Lenders, CCPs, Finadium, prime brokers, Securities Lending, topstory

No Comments

A new survey from Finadium finds that 89% of securities lending agents say that technology is now an important consideration in who receives securities loans; 78% say they are willing…

New data on securities lending fee splits (Premium Content)

June 23, 2015

Josh Galper

Featured, Investments, Securities Lending

Agent Lenders, asset managers, Fee Splits, Finadium, institutions, Securities Lending, topstory

No Comments

We are preparing our 2015 asset manager survey for publication and notice some interesting trends in fee splits with agent lenders. This article provides the data on asset managers and…

Do this, not that: five recommendations to thrive in an uncertain securities finance environment (Premium Content)

May 6, 2015

Josh Galper

Cash management, Collateral Management, Derivatives, Investments, Prime Brokerage, Securities Lending

Agent Lenders, cash management, collateral, collateral management, derivatives, interest rates, prime brokers, Securities Lending, topstory

No Comments

We’ve come across several ideas in our travels lately that we thought were worth noting on these pages. They speak in particular to the needs of our clients in figuring…

Finadium: The Securities Lending Industry in 2015

April 21, 2015

Josh Galper

Central Counterparties, Collateral Management, Hedge Funds, Investments, Prime Brokerage, Securities Lending

Agent Lenders, asset managers, collateral management, hedge funds, non-cash, pensions, prime brokers, Securities Lending, topstory

No Comments

A new report from Finadium provides a data-oriented overview of the securities lending industry in 2015 including the players, market size and regulatory drivers affecting participant behavior. Data are sourced…

Some additional observations from the IMN Beneficial Owners Conference in San Francisco: dealers predicting the future

February 5, 2015

Jonathan Cooper

CCP, Featured, Securities Lending

Agent Lenders, IMN, Indemnification, Securities Lending, topstory

No Comments

The last day of conference sessions are not as well attended as the earlier ones, but that doesn’t mean there isn’t some interesting information. At the IMN Beneficial Owners Conference…

Finadium: Perspectives on Direct Borrowing and Lending

January 14, 2015

Josh Galper

Collateral Management, Credit Exposure, Hedge Funds, Investments, Repo, Securities Lending

Agent Lenders, Beneficial Owners, Credit Exposure, Direct Borrowing and Lending, hedge funds, REITs, Repo, Securities Lending, topstory

No Comments

Finadium has released a new report in our Finadium for Investors series, “Perspectives on Direct Borrowing and Lending”. The report defines Direct Borrowing and Lending, sizes the market, evaluates pros…

Getting real in 2015: why use a securities lending CCP?

January 13, 2015

Josh Galper

CCP, Collateral Management, cover 2, Investments, Securities Lending

Agent Lenders, asset managers, CCP, collateral management, Eurex Clearing, Institutional Investors, Pirum, Securities Lending, topstory

No Comments

2015 is shaping up to be the year of the securities lending CCP; banks, agent lenders and beneficial owners are all now preparing themselves for this important market move. The…

Finadium report: Transforming the Agency Lending Business Model

November 13, 2014

Josh Galper

CCP, Collateral Management, Delta One, Featured, Securities Lending

agency securities lending, Agent Lenders, Beneficial Owners, Delta One, Finadium, hedge funds, Securities Lending, synthetic financing, topstory

No Comments

A new report from Finadium takes a fresh look at the securities lending agent business model and finds three scenarios for future evolution. Agent lenders for beneficial owners, including pension plans…

Securities Lending CCPs and Market Acceptance: a SFM Three Minute Audio Update

April 3, 2014

Josh Galper

CCP, Featured, Prime Brokerage, Securities Lending

Agent Lenders, CCPs, Central Counterparties, Indemnification, prime brokers, Securities Lending

No Comments

Check out this Podcast, a three minute update on Securities Lending CCPs. Thanks to Pirum for sponsoring. Continue reading

Finadium: Asia Overview on Securities Finance and Collateral Management

In Finadium’s first look at Asia’s securities finance markets, this report evaluates the evolving dynamics of securities lending, unsecured lending, repo and collateral management in major trading markets. The financial…

Strategies for differentiation in prime brokerage and agency securities lending (Finadium subscribers only)

July 30, 2013

Josh Galper

Collateral Management, Featured, OTC Derivatives Clearing, Prime Brokerage, Securities Lending

Agent Lenders, asset managers, hedge funds, Institutional Investors, prime brokers

No Comments

We’ve been seeing some patterns in our interviews of asset managers, institutional investors and hedge funds. The article below presents some strategic thinking for prime brokers and securities lending agents.…

What if all asset managers had a 25 bps spread before lending equities? (Finadium subscribers only)

April 8, 2013

Josh Galper

Featured, Securities Lending

Agent Lenders, minimum spreads, mutual funds, Securities Lending

No Comments

We had four conversations over the last couple of weeks with asset managers saying that their agent lenders were analyzing or suggesting a 25 bps minimum spread for their securities…

IMN’s beneficial owner conference in the US bounces back; our congratulations and review below

January 31, 2013

Josh Galper

Securities Lending

Agent Lenders, Conference, Fiduciaries, IMN, Securities Lending

No Comments

Congratulations to IMN for a successful beneficial owners conference in New Orleans this week. After the event in Arizona last year we were concerned about the interest of beneficial owners…

A follow up on cooperation between agent lenders and prime brokers

May 2, 2012

Josh Galper

Prime Brokerage, Securities Lending

Agent Lenders, Custody, prime brokers, Prime Custody, Securities Lending

No Comments

In a recent article on intraday securities lending data, we said that “the securities lending agent and prime broker relationship has been evolving in recent years towards greater cooperation.” We…

A winning attitude from a securities lending agent

January 25, 2012

Josh Galper

Featured, Regulatory, Securities Lending

Agent Lenders, Regulation, Securities Lending

No Comments

Our kudos to Gene Alvarez, global head of operational risk for securities lending at JPMorgan Chase. In a recent Risk.net interview, Alvarez pointed out opportunities for securities lending agents in…

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Agent Lenders

One idea for rebuilding the specials market in securities finance (Premium)

ISLA leads overhaul of securities lending performance measurement (Premium)

The agent lender queue may no longer be in the client’s best interest (Premium)

A methodology for measuring the impact of fund fees in securities lending using public data (Premium)

We ballpark the value of prime broker internalization of securities lending inventory (Premium)

FISL in NYC: change is the only constant

Our data on securities lending agents' assets on loan (Premium)

Report highlight: securities lending agents on banks sharing balance sheet benefits in loan fees (Premium)

Securities Lending Agents on Prime Broker Borrowers: A Finadium Survey

New data on securities lending fee splits (Premium Content)

Do this, not that: five recommendations to thrive in an uncertain securities finance environment (Premium Content)

Finadium: The Securities Lending Industry in 2015

Some additional observations from the IMN Beneficial Owners Conference in San Francisco: dealers predicting the future

Finadium: Perspectives on Direct Borrowing and Lending

Getting real in 2015: why use a securities lending CCP?

Finadium report: Transforming the Agency Lending Business Model

Securities Lending CCPs and Market Acceptance: a SFM Three Minute Audio Update

Finadium: Asia Overview on Securities Finance and Collateral Management

Strategies for differentiation in prime brokerage and agency securities lending (Finadium subscribers only)

What if all asset managers had a 25 bps spread before lending equities? (Finadium subscribers only)

IMN’s beneficial owner conference in the US bounces back; our congratulations and review below

A follow up on cooperation between agent lenders and prime brokers

A winning attitude from a securities lending agent

Finadium

Securities Finance Monitor

Upcoming Events

Finadium Investors in Securities Lending Conference – Europe (Paris, France), 24 September 2019

Rates & Repo – New York, November 4, 2019

Securities Lending and Repo Update 2019 – Zurich

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