NGT securities finance platform adds new counterparties
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NGT securities finance platform adds new counterparties 22 June 2021US Reporter: Bob Currie
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EquiLend has announced the addition of six new counterparties onto its NGT multi-asset trading platform for securities finance markets.
BBVA becomes the first counterparty from the Spanish market to connect to NGT.
Two new Japanese counterparties, au Kabucom Securities Company and SMBC Nikko Securities, add to the growing list of Japanese brokers and lenders active on the platform.
Desjardins Trust, Leonteq and Union Investment reinforce NGT’s coverage in North America and Europe.
EquiLend CEO Brian Lamb says: “Each new joiner to NGT can tap into the global securities finance market more efficiently and leverage the benefits of our digital trading platform. The market as a whole will experience enhanced liquidity with the addition of new borrowers and lenders on the platform.”
EquiLend reports that average daily transaction notional value on NGT exceeded $100 billion in Q1 2021 from more than 100,000 transactions every trading day.
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