- Numbers indicate industry-wide growth of securities lending
ISLA 15th Annual Conference, Rome, April 26, 2006 - EquiLend reported today that the firm's growth during the last 12 months is due to increase in clients and an expansion into supporting the global fixed income market. The numbers indicate a continued movement towards greater automation and efficiency within securities finance.
As the leading provider of securities finance automation, EquiLend's growth acts as an industry barometer. "Since this time last year, EquiLend has had an increase in its client base of 70%, indicating firms are realizing the key benefits of centralizing and standardizing all of their securities finance business" states Brian P. Lamb, Chief Executive of EquiLend from the firm's New York office. "That increase in clients has resulted in daily values of all trades executed through the platform up 67% since the same period last year. In Fixed Income alone, the numbers have increased 80%. EquiLend provides greater efficiency, streamlined operations, and the potential to increase our clients'
Eugene Picone, EquiLend Chairman and Senior Vice President, JPMorgan, Securities Lending Division adds, "There are a number of reasons why a firm would want to use EquiLend. From JPMorgan's perspective, we see the value in the overall economies of scale that we have been able to extract from the system. In the last year we have increased balances by over 100% and enjoyed a 20% improvement in our cost efficiency ratio.
For other participants, the cost story is also true, but also more compelling is the centralized access to counterparties. The technology allows them to compete in a way that they never could."
In addition to the impressive list of firms already using the platform, EquiLend has won a number of new clients, including Barclays Capital, ABN AMRO, Mellon Bank and Societe Generale. "European growth has been explosive," says Sharon Walker, Managing Director of EquiLend Europe based in London. "Firms are truly excited about EquiLend's value proposition and many of the recent joiners in Europe are opting for EquiLend's Express Solutions offering, an expedient route to market, with plans to migrate over to the full-featured platform, EquiLend Complete Solutions."
*Figures are as April 26th, 2006