SunGard has added an automated securities borrowing interface to its flagship securities lending playform, Global One.
The company says the so-called AutoBorrow Interface Service is designed to increase the exposure of lenders' securities to a wider range of borrowers by providing a faster route to multiple securities lending, trading and order routing systems around the world, while allowing trades to be handled automatically by Global One.
"With reducing margins, lenders need to increase volumes in order to maintain revenues, which is driving a greater need for trading efficiencies and automation in the processing of 'general collateral' business," says Craig Costigan, executive vice president and general manager of SunGard's Global One application. "Global One AutoBorrow helps lenders meet these challenges and fulfill the needs of borrowers by interfacing, in a fast and cost-effective manner, to a broad range of services that provide lenders with maximum exposure, and borrowers with access to a wider scope of securities. Global One AutoBorrow alleviates the need for lenders to develop their own complex and costly interfaces to each system."