ZKB signs on to use EquiLend’s AutoBorrow 23 May 2011London Reporter: Justin Lawson
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Zürcher Kantonalbank (ZKB) has signed on to use EquiLend’s trading and post trade services. ZKB initially plans to utilize the automated securities finance platform to lend their securities via EquiLend’s AutoBorrow and Availability services.
Laurence Marshall, Head of EquiLend Europe, comments, “We are very pleased to welcome ZKB to our platform utilizing both our trade and post trade services. As the 11th client to join this year, it highlights the growing importance of EquiLend to the European region.
Felix Oegerli, Head Liquidity Management, Short Term Interest Rates and Prime Finance, ZKB states,“We see the securities lending business becoming more competitive in the years to come. Maximised trading efficiency will be essential to implement as it results in lower unit costs. We look to the inherent capabilities of the EquiLend platform, such as automation and scalability, to allow us to maintain our competitive edge whilst reducing costs.”
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