EquiLend and BondLend Launch Trade Match Service
NEW YORK (April 1, 2015)—EquiLend and BondLend, the securities finance
industry trading and post-trade service providers, have launched Trade Match,
which provides an automated way to compare pre-settlement, cross-product
securities finance transactions.
Trade Match reconciles all the trade components of either the start or close leg
of each trade type. Trade Match’s exception management reporting prioritizes
the core pending settlement risk items for the users, helping them to reduce
fails and rectify trade economic discrepancies on a real-time basis.
Trade Match recognizes nuances between equity and fixed income clients.
BondLend clients will be able to leverage reconciliation terms specific to the
fixed income business, offering the flexibility to handle different trade types.
Trade Match is compatible with “One File” connectivity, EquiLend’s new
workflow for streamlined build-out to EquiLend’s post-trade services.
Brian Lamb, CEO of EquiLend, says: “We have heard clients’ concerns around
the changing regulatory environment and reduction of settlement cycles.
Coupled with the industry focus on developing best practices, we are excited
to offer a tool to help clients reduce risk on their pending trades. By leveraging
Trade Match, an automated solution, we allow firms to be scalable with their
business.”
Iain Mackay, post-trade service product owner at EquiLend, says: “Inventory
management and latency have become a very important priority within the
industry. Trade Match provides an opportunity to effectively manage this by
offering same-day matching and affirmation transparency, giving clients a
more effective reconciliation tool to ensure delivery of stock to the
counterparty, which will enable them to reduce costs, increase client service
and meet regulatory requirements.”
Trade Match is available immediately to existing post-trade clients of EquiLend
and will be available on April 27 for BondLend clients.
About EquiLend:
EquiLend is a leading provider of trading and post-trade services for the securities
finance industry with offices in New York, London, Hong Kong and Toronto. EquiLend
is backed by 10 global financial institutions: BlackRock, Credit Suisse, Goldman Sachs,
J.P. Morgan Clearing, J.P. Morgan, Bank of America Merrill Lynch, Morgan Stanley,
Northern Trust, State Street and UBS.
Used by securities borrowers and lenders globally, the EquiLend platform (for equities)
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and BondLend platform (for fixed income) automate formerly manual trading and
post-trade processes in the securities finance industry. DataLend, the securities finance
market data division of EquiLend, provides aggregated, anonymized, cleansed and
standardized securities finance data covering all asset classes, regions and markets
globally.
For press inquiries, please contact:
Christopher Gohlke
PR & Social Media Manager, EquiLend
+1 (212) 901-2217
[email protected]
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NEW YORK – LONDON – HONG KONG – TORONTO