Exclusive: EquiLend lands Japanese trust bank 23 May 2012New York Reporter: Mark Dugdale
Image: Shutterstock
Securities finance trading and post-trade services provider EquiLend has signed up Japanese trust bank SuMi Trust (Sumitomo Mitsui) to its platform.
SuMi Trust went live on EquiLend's platform through its agent on 30 March. EquiLend expects several other domestic participants to join in the near future.
Brian Lamb, the CEO of EquiLend, said: “Having a bank of SuMi Trust’s stature join the platform is a strong endorsement of EquiLend’s suite of trading services and represents an important move for the business in the Japanese marketplace."
“We currently work with a number of international trustee banks and custodians in the country. However, SuMi Trust represents a major pinnacle for EquiLend with the domestic Japanese trust banks.”
Nobuyoshi Fujii, the senior manager of SuMi Trust's London branch, added: ”SuMi Trust is a leading provider of one-stop global trust services including pension plan advisory, investment management and custody. With $770 billion AUM, our group is Japan’s largest asset manager and one of the country’s dominant custodians managing and administering significant public and corporate pension funds."
"We believe the integration of EquiLend’s services into our securities lending operations will result in significantly improved efficiencies to the benefit of our customer base. Furthermore, the adoption of EquiLend will help improve the efficiency and liquidity of the Japanese equity market.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities Finance Times
Image: Shutterstock 