EquiLend goes live with DataLend 02 January 2013New York Reporter: Mark Dugdale
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Securities finance trading and post-trade services provider EquiLend has entered the data market with the launch of DataLend.
Its new product will allow it to compete with Markit Securities Finance and SunGard to provide transparency to the securities lending market.
Ten financial institutions, including BlackRock, Goldman Sachs and J.P. Morgan, back EquiLend. They are providing “high integrity data” to DataLend, according to a statement.
The new product uses proprietary quantitative cleansing methods to ensure the quality of its data, which is global and covers all asset classes, regions and securities.
Ben Glicher, chief information officer at EquiLend, said: “After an intensive and extended beta phase, it is evident that we are bringing top quality, thoroughly cleansed, unadulterated data to the securities finance market. We believe that our data is more than just competitive and it is our aim to become the industry leader in global securities finance market data.”
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