New York, NY, February 4, 2002 – OM, the world’s leading provider of transaction technology to the financial services and energy industries, announced today that eSecLending, a securities lending manager owned by Old Mutual plc, has gone live on OneWorld Securities FinanceTM , administering the California Public Employees’ Retirement System (CalPERS) securities lending program.
"eSecLending introduced its Internet auction platform one year ago for CalPERS, and in that short time, the service has redefined the securities lending marketplace," said Alan Matson, Chief Technology Officer at eSecLending. "We chose OneWorld Securities Finance to power our new securities lending offering because of its modern, open architecture and built-in flexibility. In addition, we value OM’s strong relationship focus – they are committed to working closely with us as we continue to grow our business."
With OneWorld Securities Finance, eSecLending has expanded its service offerings to include daily operations administration for client programs. OneWorld Securities Finance provides full support for that effort through a modular design and comprehensive front-to-back office functionality that works for all participants in international securities finance – from the smallest direct lender through to the global custodian, broker or intermediary.
"OneWorld Securities Finance is the international securities lending system of choice for global financial institutions," said Alastair Chisholm, General Manger of Settlement & Securities Finance, OM. "As a major player with a proven track record in securities finance, we offer a flexible system with unsurpassed functionality, enabling market participants to gain competitive advantage and meet their securities lending goals today and in the future."
2/eSecLending Chooses OM to Power Securities Lending Service
OneWorld Securities Finance consists of the Securities Lending and Repo modules. Each can operate independently or be used together for an integrated full-service system. The Securities Lending module has been installed in eSecLending’s Burlington, Vermont, facility for use by offices in Boston and London. RBC Capital Markets of Canada went live with OneWorld Securities Finance in the fourth quarter of 2001, marking the North American launch of the system.