Securities Lending

Derivatives, Regulatory, Repo, Securities Lending

Repo, Securities Lending, topstory, UMR

Finadium subscribers and friends of Natixis and Eurex are invited to attend a discussion on Uncleared Margin Rules and their impact on the securities finance market, including repo and securities…

Who benefits from growth in peer to peer securities lending revenues (Premium)

September 8, 2020

peer to peer, Securities Lending, topstory

The Global Peer Financing Association (GPFA) added three members last week in its effort to build a robust peer to peer securities lending framework. There is plenty of logic to…

ISLA publishes industry guidance for securities lending performance measurement

September 7, 2020

ISLA, performance measurement, Securities Lending

ISLA announced the publication of a new set of standards and best practice guidelines in respect of data aggregation and calibration of performance-related metrics for securities lending. The standards set out…

Doors open for international access to China’s huge securities finance markets

September 3, 2020

China, Custodians, Repo, Securities Lending

Blackrock, China, Citi, Custody, JP Morgan Asset Management, Repo, Securities Lending, topstory

China’s securities markets are enormous, at over US$23 trillion in bonds and equities, and so is its repo and securities finance business. New rules allowing international firms to apply for…

OCC securities lending CCP volume down 4.3% in August 2020 year over year

September 1, 2020

CCP, OCC, Securities Lending

The average daily loan value at OCC in August 2020 was $68,733,295,322, a 10.5 percent decrease compared to August 2019. Securities lending CCP activity decreased by 4.3 percent in new…

ISLA publishes 13th Securities Lending Market Report

August 24, 2020

ISLA, Securities Lending

Set against the backdrop of the ongoing COVID-19 pandemic, this special report highlights how our markets reacted, recovered and renewed themselves during the extraordinary events that dominated the first half…

Collateral policy and fee splits as key choices for US pensions in securities lending

August 18, 2020

Neal Mahoney

Securities Lending, topstory, US, US pensions

In their securities lending operations, US public pensions plans offer a massive pool of funding from some of the largest institutional investors. A group of 96 US pensions analyzed by…

Finadium: US Pension Plans in Securities Lending: A Corporate Governance Perspective

August 18, 2020

Securities Lending, topstory, US pensions

A new report from Finadium examines the securities lending revenues and expenses of US public pension plans in the context of corporate governance. Continue reading

Finadium: Leverage Ratios, SA-CCR and Securities Finance: The New Regulatory Costs of Business

August 11, 2020

Derivatives, Repo, Securities Lending

Basel III, Basel IV, OTC derivatives, Repo, securities finance transactions, Securities Lending, topstory

The cost of balance sheet from different types of financial transactions that have a similar economic impacts drives how business gets done. In this report, Finadium delves into the Leverage…

Finadium Big Ideas Quarterly Q3 2020 now online

August 4, 2020

Collateral Management, Securities Lending

collateral management ESG, ETFs, mutual funds, Securities Lending, topstory

Our quarterly presentation on research, news and events. Continue reading

OCC seclending volumes down 9.7% in July 2020 year over year

August 4, 2020

OCC, Securities Lending, Securities Lending CCPs

The average daily loan value at OCC in July 2020 was $65,959,824,819, a 9.7% decrease compared to July 2019. Securities lending CCP activity increased by 2.8% in new loans from…

UK FCA warns firms on inappropriate use of title transfer collateral arrangements

July 30, 2020

collateral, FCA, Securities Lending, title transfer

We are sending this letter to you and other FCA-authorised firms acting as brokers in wholesale financial markets, who currently, or may in the future, offer services (including clearing broker…

Tel Aviv bourse to go live with seclending blockchain in November

July 28, 2020

blockchain, DLT, Securities Lending, Tel Aviv Stock Exchagne

The Tel-Aviv Stock Exchange (TASE) announced the launch of its Central Blockchain Securities Lending Platform, which will be the first of its kind in Israel. It’s expected to boost direct lending…

Four pensions lead creation of Global Peer Financing Association (GPFA)

July 23, 2020

peer to peer, Securities Lending

Four leading pension plans, California Public Employees’ Retirement System (CalPERS), Healthcare of Ontario Pension Plan (HOOPP), Ohio Public Employees Retirement System (OPERS), and State of Wisconsin Investment Board (SWIB) along…

Can securities lending now talk about “Best Execution” for real? (Premium)

July 21, 2020

Best Execution, Securities Lending, topstory

A vendor recently advocated that their data on securities lending would be appropriate for defining best execution. That presumes that the industry and regulators get behind one rate for everyone…

Webinar Replay: Revenues and Expenses of US Mutual Funds and ETFs in Securities Lending

July 15, 2020

SEC, Securities Lending

ETFs, mutual funds, sec, Securities Lending, topstory, US

Finadium presented our analysis of US mutual fund and ETF fund filings in securities lending for calendar year 2019, covering annual reports, Statements of Additional Information, and forms N-CEN and…

Finadium report and webinar: Revenues and Expenses of US Mutual Funds and ETFs in Securities Lending

July 14, 2020

ETFs, Finadium, mutual funds, Securities Lending, topstory

Finadium has released a full analysis of US mutual fund and ETF securities lending revenue and expense data for calendar year 2019. This analysis discloses a complex level of expenses…

Research paper: German mutual funds benefit from information in securities lending market

July 13, 2020

Securities Lending and Information Acquisition Stefan Greppmair, University of Mannheim – Finance Area Stephan Jank, Deutsche Bundesbank; University of Cologne – Centre for Financial Research (CFR) Pedro A. C. Saffi,…

DataLend: global seclending revenue down to $3.9bn in H1 2020, Americas buck downtrend

July 2, 2020

DataLend, revenues, Securities Lending

The global securities finance industry generated $3.89 billion in revenue for lenders in the first six months of 2020, according to DataLend, the market data division of fintech EquiLend. The…

Client Webinar July 15: Revenues and Expenses of US Mutual Funds and ETFs in Securities Lending

June 30, 2020

ETFs, Investments, Securities Lending

ETFs, mutual funds, Securities Lending, topstory, US

July 15, 2020 10AM New York 3PM London 4PM Paris/Frankfurt This Finadium client webinar will present our analysis of US mutual fund and ETF fund filings in securities lending for…

Looking for better market information? Finadium runs 3-6 months ahead of the news cycle

June 30, 2020

Central banks, Collateral Management, Prime Brokerage, Repo, Securities Lending

BNPP, Central Bank Digital Currencies, Central Banks, Deutsche Bank, Prime Brokerage, SA-CCR, Securities Lending, topstory

Finadium content often runs three to six months ahead of the popular news cycle. Here’s what we’ve published for clients lately and here’s what we’ve seen months later. Continue reading

P&I: Lothian adopts automatic recall of stock for annual meeting votes

June 12, 2020

Lothian, Securities Lending, voting

Lothian Pension Fund, Edinburgh, will automatically recall shares out on loan so fund executives can vote the entire holding of any stock at annual general meetings. The £8 billion ($9.9…

Negative leaning WSJ article on securities lending vs. shareholder voting

June 10, 2020

Securities Lending, shareholders, voting, WSJ

How Investing Giants Gave Away Voting Power Ahead of a Shareholder Fight BlackRock, Vanguard and Fidelity were among the largest investment firms in GameStop that decided to forgo ballots by…

ESG high on the radar for Bank of England Securities Lending Committee

June 10, 2020

Bank of England, ESG, Securities Lending

Minutes of the Bank of England Securities Lending Committee 27 February 2020 Impact of Environmental, Social and Corporate Governance (ESG) on Securities Lending Markets The Committee discussed the potential challenges…

Globalization is changing, and so too are priorities in outsourcing risk (Premium)

June 10, 2020

Repo, Securities Finance, Collateral and Derivatives, Securities Lending, Technology

Equilend, FISL 2020, outsourcing, Securities Lending, STAC, topstory

The themes underpinning outsourcing arrangements are getting revisited as market participants take stock of COVID disruption. We take a look at some of the shifting attitudes in the markets and…

Webinar replay: Current Dynamics in the Securities Lending Industry, FISL 2020 (Premium)

June 9, 2020

Securities Lending, topstory

Our annual Finadium Investors in Securities Lending conference was rebooted online this year. Finadium subscription clients can access the webinar replay of the Current Dynamics in the Securities Lending Industry…

Seclending prioritized as DLT post-trade project by JPX, JASDEC

June 7, 2020

blockchain, DLT, JASDEC, JPX, Securities Lending

Japan Exchange Group and Japan Securities Depository Center announced that they have selected three use cases for verification using a DLT test environment developed by JPX-led consortium in their pilot…

Webinar replay: What the Next Generation of Securities Finance Professionals Thinks, FISL 2020 (Premium)

June 2, 2020

Securities Lending, topstory

Our annual Finadium Investors in Securities Lending conference was rebooted online this year. Finadium subscription clients can access the webinar replay of the What the Next Generation of Securities Finance…

Webinar replay: Technology, Operations and Market Structure in Securities Finance, FISL 2020 (Premium)

May 28, 2020

CCP, Securities Lending, Technology, Uncategorized

automation, CCPs, Securities Lending, technology, topstory

Our annual Finadium Investors in Securities Lending conference was rebooted online this year. Finadium subscription clients can access the webinar replay of the Technology, Operations and Market Structure panel here.…

FISL 2020: securities lending industry stabilizes, braces for future (Premium)

May 18, 2020

Collateral Management, Securities Lending, Technology

blockchain, cash reinvestment, collateral management, coronavirus, FISL 2020, Securities Lending, topstory

Last week’s FISL webinar series covered a wide range of topics against the backdrop of the coronavirus fallout: securities lending market dynamics and revenue trends, managing workplace disruption across generations,…

Finadium Big Ideas Quarterly Q2 2020 now online

May 4, 2020

Repo, Securities Lending

hedge funds, Prime Brokerage, Repo, Securities Lending, topstory

Our quarterly presentation on research, news and events. Continue reading

Equity derivatives: why scrip and rights trades have taken a hit in the crisis (Premium)

May 4, 2020

equity derivatives, Securities Lending, Societe Generale, topstory

Any trade linked to a payment from a dividend is going to have a problem if dividends are suspended or excess volatility damages the predicted future value of a derivatives…

OCC seclending volumes up 4% in April 2020 year over year

May 1, 2020

CCP, OCC, Securities Lending

The average daily loan value at OCC in April 2020 was $72,649,346,808 a 4.02 percent increase compared to April 2019. Securities lending CCP activity increased by 2.51 percent in new…

State Street paper offers perspective on the intersection of ESG and securities lending

April 30, 2020

ESG, Securities Lending, State Street

Beyond Mechanics: The Intersection of Securities Lending and ESG Investing Empirical evidence indicates that short selling, facilitated by securities lending, improves market efficiency and market liquidity. A holistic view of…

Report: APAC overtakes EU for seclending revenue, Japan leads and China “hugely encouraging”

April 28, 2020

APAC, Equilend, PASLA, RMA, Securities Lending

With the ongoing US-China trade negotiations, Britain leaving the European Union, civil unrest in Hong Kong and a new type of virus spreading across the globe, stocks are trading in…

DataLend launches daily equity and fixed income market updates

April 22, 2020

News and Notes – Fintech

data analytics, DataLend, equity, Fixed Income, Securities Lending

In the current state of volatility, following daily movements in the securities finance industry is no easy feat. DataLend, the securities finance market data division of EquiLend, has released Daily…

IHS Markit: higher returns to lendable expected after March equity utilitization spike

April 21, 2020

benchmarking, data analytics, IHS Markit, ISLA, Securities Lending

IHS Markit has launched monthly performance benchmarking reports that measure securities lending returns in six MSCI global equity indices: World, USA, Europe, Japan, Asia Pacific ex Japan, and Emerging Markets.…

ISLA to form new digital working group

April 21, 2020

CDM, digitization, ISLA, Securities Lending

ISLA is forming a new digital working group, which will initially help to form responses to consultations from the European Commission and Bank of England with a view to then…

Finadium: US Mutual Fund and ETF Revenues from Securities Lending Cash Collateral Pools

April 21, 2020

cash collateral, ETFs, mutual funds, Securities Lending, topstory

A new report from Finadium quantifies how much money is at stake for US fund complexes in their securities lending cash collateral fees. In a high interest rate environment, fund…

Alternative data getting tested in extreme corona economy

April 15, 2020

Artificial Intelligence, Technology

alternative data, coronavirus, Cuemacro, RavenPack, Securities Lending, Tidal Markets, topstory, volatility indicators

Across the financial markets, practitioners everywhere are trying to figure out what’s happening and what might happen next in an environment of extreme uncertainty. We talk to experts to see…

Caixin: China securities lending at record high

April 13, 2020

Caixin, China, Securities Lending

Chinese short sellers have been increasingly active over the last few months amid grim market conditions, pushing the balance of securities lending on domestic exchanges to a record high of…

Monday News Roundup: new data, fast moving regulations, repo trends and more (Premium)

April 6, 2020

Repo, Securities Lending

Federal Reserve, Leverage Ratio, Regulatory, Repo, Securities Lending, Short selling, topstory

These are tough times to follow what’s happening: nearly every day seems like it brings major pieces of news that in ordinary times would warrant consideration, but now it’s just…

OCC seclending CCP activity up 2% in March 2020 year over year

April 1, 2020

CCP, OCC, Securities Lending

The average daily loan value at OCC in March 2020 was $76,174,841,455 a 2.03 percent increase compared to March 2019. Securities lending CCP activity increased by 4.04 percent in new…

DataLend launches daily securities finance market overview

March 31, 2020

DataLend, securities finance, Securities Lending

Equities data for March 30, 2020 For more DataLend updates, visit https://datalend.com/datalend-daily-market-overview/

FIS Astec shows European equity seclending volumes up 110% since Feb 1, US equities seclending up 16%

March 27, 2020

FIS, Securities Lending

The world is getting shorter: the last two months have seen asset borrowing volumes rise fast. European equity volume is up 110 percent since February 1, with US equities rising…

Bank of Japan announces additional measures to stabilize repo and securities lending markets

March 25, 2020

Bank of Japan, Repo, Securities Lending

The Bank of Japan released “Market Operations toward the End of March” and announced measures to maintain stability of the repo market on March 13. In addition, the Bank has…

Initial securities lending impacts from the coronavirus (Premium)

March 24, 2020

Agent Lenders, cash collateral, prime brokers, Securities Lending, topstory

While agent lenders report that securities lending volumes are up (adjusted for the fall in equity prices), there are also reasons to heighten readiness for some hard to manage aspects…

Financial Standard: UniSuper suspends stock lending

March 17, 2020

Australia, Securities Lending, UniSuper

The $85 billion super fund has requested BNP Paribas Securities Services to suspend stock lending, effective immediately. UniSuper said restricting the ability to short-sell is in the best interests of…

Competitive analysis of the top securities borrowers from US mutual funds and ETFs (Premium)

March 10, 2020

ETFs, Investments, Prime Brokerage, Securities Lending

ETFs, Goldman Sachs, J.P. Morgan, Morgan Stanley, mutual funds, Scotiabank, Securities Lending, topstory