GPFA welcomes BCI to member community 21 February 2024Canada Reporter: Carmella Haswell
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The Global Peer Financing Association (GPFA) has welcomed the British Columbia Investment Management Corporation (BCI) to the global beneficial owner association.
According to the Association, adding BCI “completes the representation from the largest pension plans in Canada”, a group informally known as the Maple 8.
Canadian beneficial owners run highly sophisticated securities financing programmes, says GPFA, and are “some of the leading market participants globally”.
BCI is the 33rd beneficial owner to join the Association. GPFA members represent nearly US$10 trillion in assets globally, with nearly 80 per cent of these members and assets being from global and public government pension plans or sovereign wealth funds.
GPFA brings together beneficial owner members with the goal of encouraging the development of a more effective and transparent marketplace for securities financing activities, liquidity management and collateral management.
Members of the GPFA community share a goal to increase and support peer-to-peer securities financing trading activity.
Commenting on the announcement, the GPFA says: “The GPFA member community is thrilled to have BCI as a part of the group, and we look forward to the knowledge sharing and expansion of best practices discussions that will follow by having BCI involved.”
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