EquiLend, technology provider to the securities lending, collateral and swaps industries, has purchased a majority share in Stonewain Systems.
This deal builds on a partnership between the two companies that has been in place since February 2019, which enables securities finance market participants to manage their books of business on a single, integrated platform.
This brings together Stonewain’s Spire technology with EquiLend’s portfolio of trading, post-trade and market data solutions for the securities finance industry, including EquiLend’s NGT electronic trading platform.
The combination, EquiLend Spire, offers a modular and scalable securities finance solution for compliance, reporting, risk analysis, accounting, positions and trading.
Stonewain will remain as a standalone legal entity with independent management and will continue to support all existing client and partner relationships.
The two companies indicate that their continuing partnership aims to meet unprecedented demand in the securities finance industry for automation, rapid modernisation, service efficiency and reduced cost.
EquiLend chief executive Brian Lamb says: “Our increased commitment to Stonewain is a strategically important development for EquiLend in a year that also represents a significant milestone for the business, as we celebrate our 20th anniversary in the industry.
“We are proud of the opportunities [the partnership] has presented on EquiLend Spire [and] look forward to everything that EquiLend and Stonewain can achieve together as a closer team,” adds Lamb.
Armeet Sandhu, Stonewain’s CEO, says: “Stonewain has been dedicated to developing cutting-edge solutions in the securities finance marketplace for over a decade, which aligns with EquiLend’s ethos of innovation and driving efficiencies for the market. Our partnership with EquiLend has demonstrated that market participants are eager for innovative solutions that tackle their technology challenges and that the combined might of our two organisations can help to alleviate those headaches.”
EquiLend’s global head of sales and client relationship management Dan Dougherty says: “[the] partnership with Stonewain was driven by two key factors: the opportunity in the market to transform a highly antiquated, underserved corner of securities finance in books and records solutions and the natural synergies between Stonewain’s system and EquiLend’s suite of trading, post-trade, market data, clearing and regulatory services.”
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