Finadium: Declining Securities Finance Volumes: Pricing, Problems and Solutions

July 11, 2019

automation, Finadium, pricing, Securities Lending, topstory

A new report from Finadium investigates the causes of reduced securities lending volumes from the perspectives of beneficial owners, agent lenders, prime brokers and hedge funds, and seeks solutions that…

ISLA publishes Institutional Investor Guide to Securities Lending, in association with Finadium

June 17, 2019

Josh Galper

News and Notes

Finadium, Institutional Investors, ISLA, Securities Lending

No Comments

The International Securities Lending Association is delighted to announce the publication of its new Institutional Investor Guide to Securities Lending. Produced in association with Finadium, a consultancy focused on securities…

Finadium: ESG Funds in Securities Lending: A Statistical and Program Analysis

June 13, 2019

Josh Galper

Investments, Securities Lending, Technology

ESG, Finadium, Securities Lending, topstory

No Comments

Environmental, social and governance (ESG) investment funds are on the rise, and with them the importance of these funds in securities lending. Using newly collected data, we document the securities…

Finadium: Total Return Futures, Total Return Swaps and the Repo Market

April 24, 2019

Josh Galper

CCP, Derivatives, Repo, Total Return Futures, Total Return Swaps

Finadium, Repo, topstory, Total Return Futures, Total Return Swaps

No Comments

Total Return Futures (TRF) are emerging as a competitive product to repo and Total Return Swaps, as reported by Delta One trading desks and witnessed at exchanges and CCPs that…

Finadium: Custodians and Client Facing Technology

April 9, 2019

Josh Galper

Big Data, Custodians, Technology

Big Data, Custody, Finadium, technology, topstory

No Comments

The global custody business is becoming digitized, and custodians have adopted innovative strategies in delivering data, widgets and APIs to their global, diverse client bases. A new report from Finadium…

Finadium launches enhanced analytics for US mutual funds and ETFs in securities lending; invites beta testers for online access

April 8, 2019

Josh Galper

ETFs, Investments, Securities Lending, Technology

ETFs, Finadium, mutual funds, Securities Lending, topstory

No Comments

Finadium has created an enhanced database of US mutual funds and ETFs in securities lending that incorporates SEC filings and additional industry content. The database provides clients a comprehensive analysis…

Finadium: Scenarios for a Cyber Collateral Attack

March 26, 2019

Josh Galper

Collateral, Technology

collateral, cyberattack, Finadium, topstory

No Comments

Both the financial services industry and corporations everywhere have faced an increase in cyberattacks in recent years, by both state-led and individual actors. This report focuses on how an attack…

Finadium: The Present and Future of Securities Finance Market Data

March 13, 2019

Josh Galper

Big Data, Securities Lending, Technology

Finadium, market data, securities finance, topstory

No Comments

A new report from Finadium looks at securities finance market data across users and vendors. It evaluates potential future market developments including existing vendors and emerging market entrants. Continue reading

Securities Lending 101 webinar replay and slides (Premium)

March 12, 2019

Josh Galper

Collateral, Securities Lending

Finadium, Securities Lending, topstory, Webinar

No Comments

Finadium clients can access the webinar play and slides here. Continue reading

Business of Collateral Trading 2019 roundup and conference materials (Premium)

February 25, 2019

Josh Galper

Collateral Management, Europe

BOCT, collateral management, Finadium, Frankfurt, topstory

No Comments

Here’s what we learned at the Business of Collateral Trading event we held last week in Frankfurt, attended by 81 professionals across the buy-side, sell-side, vendor and regulatory communities. We…

Finadium: Trust, Technology and Advances in Crypto Privacy

February 12, 2019

Josh Galper

Cryptocurrency, Technology

Crypto, Finadium, privacy, technology

No Comments

Trust remains a critical component of building a successful crypto marketplace. While cryptocurrencies and tokens have proven theoretically interesting to the public, continued hacks and exposures of transactions mean that…

Finadium: European Delta One Trader Survey

January 22, 2019

Josh Galper

Delta One, Europe, Liquidity Management, Securities Lending

Delta One, Europe, Finadium, listed derivatives, securities finance, topstory

No Comments

The Delta One business is a type of market making for liquidity and risk management clients that seek economic exposure of a security without the complexity of carrying the underlyings.…

Finadium: Stock Exchanges, Security Tokens and Capital Formation

January 15, 2019

Josh Galper

Blockchain, Cryptocurrency, Market infrastructure, Technology

digital assets, Finadium, Security Token Offerings, Stock exchanges, STOs, topstory

No Comments

Stock exchange complexes have an opportunity to enter and control the Security Token Offering (STO) space, which would at once provide a new mechanism for capital formation and support often…

Finadium: US Repo Market at End of 2018

December 12, 2018

Josh Galper

Repo, US

Finadium, Repo, topstory, US

No Comments

Finadium has released an end of year overview on the US repo market including key themes for liquidity and spreads in the coming year. This report is based on Finadium…

What we learned at yesterday’s securities finance event in Zurich (Premium)

December 6, 2018

Josh Galper

Europe, Repo, Securities Lending, Total Return Swaps

events, Finadium, Securities Lending, SFTR, topstory, Zurich

No Comments

That was really interesting. We held our fifth annual securities lending and repo update yesterday in Zurich. Discussion centered on SFTR and the evolution of the securities finance business in…

Finadium launches new event in Frankfurt, The Business of Collateral Trading, for February 2019

November 19, 2018

Josh Galper

Collateral Management, Liquidity Management

Business of Collateral Trading, Finadium, Frankfurt, topstory

No Comments

Finadium is announcing a new event launch, The Business of Collateral Trading, 21 February 2019 in Frankfurt. This event is the result of our in-depth research and consulting activities in Europe…

Finadium: 2018 Survey of Institutional Investors in Securities Finance

November 15, 2018

Josh Galper

Collateral Management, Investments, Securities Lending

collateral management, Finadium, Institutional Investors, Repo, Securities Lending, topstory

No Comments

In Finadium’s 2018 survey of institutional investors in securities finance, respondents voiced strong support for securities lending, collateral management and repo. These markets are seen as low risk and they…

Finadium report on Cryptojacking: A Growing Corporate Threat

October 31, 2018

Josh Galper

Cryptocurrency, Technology

cryptojacking, Finadium, topstory

No Comments

Cryptojacking has grown from a nuisance to a threat, with over 2.9 million instances recorded in Q1 2018. For financial services firms, the ability of a hacker to not only…

Finadium: The SOFR Transition: Benchmarks, Futures and P&L

October 23, 2018

Josh Galper

Benchmarks, Interest rates, Repo, SOFR

Finadium, futures, LIBOR, SOFR, topstory

No Comments

This Finadium research report examines a number of aspects of the SOFR transition. SOFR is an overnight secured rate while LIBOR is an unsecured term rate. LIBOR, in the form…

Get the weekly SFM update – our August 31 2018 newsletter is online

August 31, 2018

Headlines: FICC starts to see liftoff with money fund cleared repo; FISL NYC is coming to town; Sanction backfire, a non-US payment system would change the balance of financial power; …

Save the Date: FISL NYC is May 2-3, 2019

August 29, 2018

Josh Galper

Securities Lending

Finadium, FISL NYC, FISL NYC 2019, Securities Lending, topstory

No Comments

Finadium Investors in Securities Lending (FISL) Conference May 2-3, 2019 New York City Save the Date Finadium has announced our next FISL NYC conference: May 2-3, 2019. Please reserve the…

Get the weekly SFM update – our August 17 2018 newsletter is online

August 17, 2018

See the full newsletter here

Finadium Big Ideas Quarterly Q3 2018 now online

August 1, 2018

Josh Galper

Collateral Management, Repo

collateral, Finadium, Repo, topstory

No Comments

Our quarterly presentation on research, news and events. Finadium Securities Finance, Collateral and Derivatives subscription clients can log in and download the presentation here. If you are already logged in,…

Finadium: Collateral Trading Platforms and Service Providers: A Finadium Survey

July 10, 2018

Josh Galper

Automation, Collateral Management

collateral management, collateral services, Finadium, topstory, trading platforms

No Comments

The collateral management services space has seen over a dozen new entrants join existing banks and technology companies in the last two years, who themselves have continued to adapt their…

Finadium/DEGC repo breakfast recap: sharp insights on market structure, technology and future risks (Premium)

June 4, 2018

Josh Galper

Repo, Technology, Tri-Party Repo, US

DEGC, Finadium, Repo, topstory, tri-party, US

No Comments

Finadium and DTCC-Euroclear GlobalCollateral (DEGC) held a repo breakfast update on Thursday, May 31 in New York. We were pleased to welcome 45 market participants across 27 dealer, buy-side and…

Finadium: Is Frankfurt the Next Collateral and Liquidity Hub?

May 15, 2018

Josh Galper

Asia, Collateral, Collateral Management, Europe, Liquidity Management

Asian banks, collateral, Finadium, Frankfurt, Liquidity, topstory

No Comments

A new Finadium research report looks at Frankfurt as a financial center and some key aspects that may determine its competitiveness and future relevance post-Brexit and beyond. Does it have…

Presentation: The Legitimacy of Cryptocurrencies and Internet Coin Offerings (Premium)

March 15, 2018

Josh Galper

Bitcoin, Blockchain, Cryptocurrency, ICO, Technology

cryptocurrencies, Finadium, ICOs, topstory

No Comments

We recently delivered a presentation on the legitimacy of cryptocurrencies and Internet Coin Offerings both legally and in the popular imagination. This overview is useful for readers thinking about the…

Finadium: Solving the Credit Risk Exposure Problem for the Buy-side in Securities Finance

March 14, 2018

Josh Galper

Credit Exposure, Investments, Repo, Securities Lending

buy-side, credit intermediation, Finadium, Repo, Securities Lending

No Comments

Unlocking unutilized lender supply would change the landscape for both securities finance and capital markets in general, but finding new credit support structures that securities lenders will accept is a…

Best practices for buy-side securities lending at FISL NYC and London – not just a good idea but important for revenues and risk management

March 12, 2018

Josh Galper

Hedge Funds, Investments, Pension Management, Securities Lending

best practices, Finadium, FISL, Securities Lending

No Comments

Securities lending has strong legitimacy in capital markets as a revenue generating activity for clients, and for passive funds can make the difference between a top ranking and falling near…

How many data fields are really needed by regulators to supervise Securities Financing Transactions?

March 8, 2018

Josh Galper

Big Data, ESMA, Financial Stability Board, Repo, Securities Lending

Finadium, FSB, reporting, securities financing transactions, SFTR, topstory

No Comments

It’s widely accepted that the 152 fields designated by the EU’s Securities Financing Transactions Regulation (SFTR) is overkill. In fact, many of these fields don’t currently exist in participant computer…

Finadium Survey: Better Regulation for Europe’s Securities Financing Transactions

February 14, 2018

Josh Galper

Basel III, Collateral Management, ECB, Europe, Repo, Securities Lending

Basel III, Europe, Finadium, Leverage Ratio, Liquidity Coverage Ratio, Repo, securities financing transactions, Securities Lending, topstory

No Comments

European regulation of Securities Financing Transactions (SFTs) is having its desired effect, which is a near gold standard of risk management. Unfortunately, it’s at the cost of market vibrancy. A…

Finadium welcomes Kurt Jarnagin as Senior Consultant in Frankfurt

January 23, 2018

Josh Galper

Collateral Management, Uncategorized

Finadium, Frankfurt, Kurt Jarnagin, topstory

No Comments

Finadium is pleased to announce that Kurt Jarnagin has joined the firm as a Senior Consultant. Based in Frankfurt, Kurt has already begun work on Finadium research projects and consulting…

Finadium: Evolution of the Total Return Swaps Market

January 17, 2018

Josh Galper

Delta One, Derivatives, Repo, Securities Lending, Total Return Swaps

Finadium, Repo, Securities Lending, topstory, Total Return Swaps, TRS

No Comments

In this report, we examine the current state of the Total Return Swaps (TRS) market through conversations with major market participants and a review of bank financial statements. Our conversations…

Securities finance as an alpha generator on the buy-side? A FISL NYC and London afternoon session

January 11, 2018

Josh Galper

FISL, Hedge Funds, Investments, Repo, Securities Lending

Alpha generation, asset managers, Finadium, FISL, hedge funds, securities finance, topstory

No Comments

Can hedge funds and asset managers generate meaningful alpha for their portfolios using securities finance? This is an important question for both the funds themselves and the professionals that work…

Finadium: Smart Contract Vendors on Solving Problems in Capital Markets: A Finadium Survey

January 10, 2018

Josh Galper

Blockchain, Technology

blockchain, distributed ledger technology, Finadium, smart contracts, topstory

No Comments

Smart contracts are a next phase of development in Distributed Ledger and blockchain technologies. They present an opportunity to automate currently manual processes and move algorithms that run on legacy…

Agenda now online for Finadium Investors in Securities Lending Conference New York, April 11-12 2018

January 8, 2018

Josh Galper

Securities Lending

Finadium, Finadium Investors in Securities Lending, FISL, New York 2018, topstory

No Comments

Finadium announces the agenda for its US Investors in Securities Lending (FISL) Conference, to be held in New York, April 11-12 2018. Our 2017 FISL events showed that a new…

Finadium: Collateral Management Technology Vendors in 2017: A Finadium Survey

December 13, 2017

Josh Galper

Collateral Management, Technology

collateral management, Finadium, technology, topstory

No Comments

Finadium has conducted its fifth industry-wide survey of collateral management technology vendors, providing a comparative look at the development of this sector. The survey provides readers with a product summary…

Finadium webinar replay and slides: Implementing Change in 2018 (Premium)

December 7, 2017

Josh Galper

All to All, Basel III, Collateral Management, Prime Brokerage, Repo, Securities Lending, Technology, Tri-Party Repo

collateral management, Finadium, Repo, Securities Lending, topstory

No Comments

We delivered two client webinars today on implementing change in 2018. 2017 was a big year, with many moving parts in the collateralized trading markets across the business, regulation and…

Finadium Report: Analysis from the US Rates & Repo 2017 Conference

December 5, 2017

Josh Galper

Hedge Funds, Investments, Repo, US

events, Finadium, FISL, hedge funds, Rates & Repo, Repo, topstory, US

No Comments

Finadium has documented the questions and feedback from our November 1, 2017 Rates & Repo event in New York as a research report. The event drew 145 attendees, with 34%…

Finadium: European Prime Brokerage Survey: Customers, Capital and Business Models

November 15, 2017

Josh Galper

Basel III, Liquidity Management, Prime Brokerage

Europe, Finadium, Prime Brokerage, topstory

No Comments

This Finadium research report is a survey of European prime brokers’ thinking towards capital and clients. We investigate how much prime brokers are aware of their balance sheet requirements and…

Finadium Big Ideas Quarterly Q4 2017 now online

November 6, 2017

Josh Galper

Asia, Collateral Management, Derivatives, Europe, Regulatory, Repo, US

big ideas, collateral management, derivatives, Finadium, Repo, Securities Lending, topstory

No Comments

Recap of Finadium’s Rates & Repo Conference 2017 in New York

November 6, 2017

Josh Galper

Hedge Funds, Investments, Money Market Funds, Repo, US

Finadium, hedge funds, Rates & Repo, Repo, topstory, US

No Comments

We are pleased to report that our first Rates & Repo Conference, held last week in New York, was by all accounts a great success. We had 162 registrations by…

Finadium: The Global Tri-party Services Market in 2017: A Finadium Survey

October 30, 2017

Josh Galper

Collateral Management, Derivatives, Operations, Repo, Securities Lending

collateral management, Finadium, Repo, Securities Lending, topstory, tri-party

No Comments

The global tri-party market size is US$4.65 trillion, up from US$4.3 trillion in 2014, according to a new survey from Finadium. Tri-party services continue to evolve by product and region,…

Finadium: Legacy Systems in Capital Markets: Enhance, Augment or Replace?

October 24, 2017

Josh Galper

Technology

Finadium, fintech, legacy systems

No Comments

This Finadium report looks at the current role of legacy systems in the capital markets infrastructure, strategies for managing them and opportunities for their replacement. This report should be read…

Our slides from the Oct 3 London event, “Market Competition, Europe and US regulations” (Premium)

October 4, 2017

Josh Galper

Bank of England, Bank of Japan, Basel III, Europe, Liquidity Management, Regulatory, Repo, Risk Management, Securities Lending, US

Europe, Finadium, London, Regulation, tapering, topstory, US

No Comments

Thanks to our clients who attended our event in London this week on market regulations and their impact on competition between the US and Europe. Our slides are available for…

Finadium: Central Bank Tapering: Impacts for Liquidity and Collateral Markets

September 12, 2017

Josh Galper

Bank of England, Bank of Japan, Collateral Management, ECB, Federal Reserve, Investments, Liquidity Management

Bank of England, Bank of Japan, Central Banks, European Central Bank, Federal Reserve, Finadium, tapering, topstory

No Comments

Central bank tapering season is on the horizon: this means opportunities for price volatility, spread movements between products, and exchange rate fluctuations. It also means a potentially new set of…

Finadium: AI in Capital Markets: What Matters and What Doesn’t

August 22, 2017

Josh Galper

Artificial Intelligence, Technology

artificial intelligence, capital markets, Finadium, machine learning, robotics, topstory

No Comments

The technology buyer in capital markets is getting inundated with marketing about the latest hot trend in fintech: Artificial Intelligence (AI). Still reeling from the blockchain onslaught of the last…

Survey results: asset manager recommendations to peers on successful securities lending programs (Premium)

August 8, 2017

Josh Galper

Investments, Securities Lending

asset managers, Finadium, Securities Lending, topstory

No Comments

This article presents recommendations that asset managers have for their peers as beneficial owners in securities lending. The findings come from our 2017 survey of asset managers, covering 31 firms…

Finadium Big Ideas Quarterly Q3 2017 now online

August 1, 2017

Josh Galper

Collateral Management, Derivatives, Repo, Securities Lending

collateral, derivatives, Finadium, Repo, Securities Lending, technology, topstory

No Comments

Our quarterly presentation on research, news and events. Finadium research clients can log in and download the presentation here

Finadium’s strategic plan for 2017-2018

July 27, 2017

Josh Galper

Derivatives, Fintech, Fixed Income, Repo, Securities Lending, Technology

collateral, derivatives, Finadium, fintech, Fixed Income, securities finance, topstory

No Comments

Financial markets are changing at a rapid pace; from front to back office and across products, anyone can see that today’s markets are not what they were 10 years ago.…

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