Quadriserv Co-Founder and Managing Director Gregory DePetris commented, âFor some time, securities lending has been evolving toward a more transparent, automated, and efficient marketplace. Recent events have further galvanized the resolve of regulators and market participants alike to reform the industry, and Quadriserv is accelerating the rollout of innovative solutions that will benefit all market participants. The strategic and financial benefit we will derive from our investors is of enormous value as we move ahead in this process, and we thank them for their support.â
"We are pleased that through our investment in Quadriserv we can help clients achieve their goal of greater transparency in stock loan pricing," said Syl Chackman, co-head of Merrill Lynch (NYSE: MER) prime brokerage. "As a market leader in stock lending and prime brokerage, Merrill Lynch will be well-positioned to guide clients through market structure changes in stock loan, including through Quadriserv and through Merrill Lynch proprietary channels," he added.
âWe share Quadriservâs fundamental conviction that the securities lending market is undergoing an important evolution,â added Todd Simkin, Head of Susquehanna Private Equity Investments. âOur investment highlights our belief that Quadriserv has the people, technology and business strategy to emerge as a dominant force in driving these changes, and we look forward to working with the Companyâs management team to capture the opportunity.â