WeMatch hits $45bn average balance on securities finance platforms
27 November 2020 UK
Image: wooddy7/adobe.stock.com
WeMatch continues to boast “big traction” by achieving a record-high of $45 billion in its combined ongoing securities financing balance on its two platforms, according to co-founder and head of Europe, the Middle East and Africa (EMEA) David Raccat.
This balance includes total return swaps (TRSs) on both naturals and financing, securities lending on both specials, general collateral, and upgrades/downgrades, and repos.
The milestone means that the ongoing balance matched and managed on the securities finance platform has more than doubled since it hit its last checkpoint of $20 billion in July. Raccat says that the balance has never stopped increasing since then.
The latest record high represents the combined average balances on WeMatch’s EMEA platform, which has been live since 2017, and the newly-launched US TRS platform, that launched in October.
The EMEA platform has so far matched more than $500 billion of interests.
Raccat comments: "We are very happy to see this big traction on our securities financing platform, which is a combination of more flows on our EMEA platform, increased usage of lifecycle management and collateral optimisation, and the launch of our TRS solution in the US.
“The demand for more automated workflows is increasing daily and we are upgrading our solutions with more features and a growing usage of our API connectivity protocols."
Raccat adds that WeMatch is now aiming for $60 billion as its next target.
Now read: Securities Finance Times Collateral Annual 2021.
This balance includes total return swaps (TRSs) on both naturals and financing, securities lending on both specials, general collateral, and upgrades/downgrades, and repos.
The milestone means that the ongoing balance matched and managed on the securities finance platform has more than doubled since it hit its last checkpoint of $20 billion in July. Raccat says that the balance has never stopped increasing since then.
The latest record high represents the combined average balances on WeMatch’s EMEA platform, which has been live since 2017, and the newly-launched US TRS platform, that launched in October.
The EMEA platform has so far matched more than $500 billion of interests.
Raccat comments: "We are very happy to see this big traction on our securities financing platform, which is a combination of more flows on our EMEA platform, increased usage of lifecycle management and collateral optimisation, and the launch of our TRS solution in the US.
“The demand for more automated workflows is increasing daily and we are upgrading our solutions with more features and a growing usage of our API connectivity protocols."
Raccat adds that WeMatch is now aiming for $60 billion as its next target.
Now read: Securities Finance Times Collateral Annual 2021.
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