Securities finance trading service provider EquiLend and its BondLend unit are planning to launch a new securities finance trading platform covering the full pre-trade to execution process.
The platform will offer bilateral trading of collateral and will give the buy-side greater ability to automate securities finance trading operations as the global collateral market experiences heightened demand due to post-crisis regulatory reform.
The platform will integrate existing features of the EquiLend and BondLend platforms including real-time inventory postings and seeks to become a single portal for the industry’s securities finance trading needs.
“We are constantly in discussions with clients about how to bring new efficiencies to the securities finance trading process for both lenders and borrowers,” Dow Veeranarong, vice president of product strategy for EquiLend, said in a statement. “The new EquiLend and BondLend trading platform will allow lenders to increase utilisation of their books and borrowers to improve their execution efficiency.”
The platform also will include trading screens, extended availability fields and display indications of interest and counter-offers.
“It brings added transparency into the entire trading process by consolidating trading services into a single, comprehensive, integrated platform, from front to back,” Veeranarong said.
EquiLend also announced on Monday it had appointed Tim Keenan as global product manager of fixed income securities finance trading platform BondLend, effective immediately. Keenan has more than 25 years experience in securities lending, repo and prime brokerage and will be based in New York.