HSBC will begin using EquiLend's services offered through its platform in phases, the first of which will include using EquiLend AutoBorrow for its borrowing and lending needs in Europe. Once the European phase is complete, HSBC plans to extend this rollout globally. Deploying EquiLend's automated system will enhance HSBC's trading and operational efficiency and provide greater scalability.
"Having HSBC as a client is a tremendous milestone for EquiLend," states Brian P. Lamb, CEO of EquiLend. "Their expansive global business in numerous markets makes them a valuable addition to our already robust client base."
Karl von Buren, Global Head of Equity Finance at HSBC said, "The use of automated trading tools is becoming increasingly important to HSBC as we continue to expand our equity finance product. The introduction of EquiLend gives us greater ability to transact with many of the other major players in the market."