EquiLend extends collateral trading solution
31 August 2021 US
Image: AdobeStock/vectorpouch
EquiLend, the New-York based provider of securities finance trading and post-trade services, has added basket trading to its Collateral Trading (CLT) service supported on its Next Generation Technology (NGT) platform.
In an extension to its service, CLT now supports bid and offer workflow for collateral baskets combining any type of assets or collateral, including equity-for-equity and equity-for-cash.
Users agreeing to basket terms and allocations can receive standard NGT shared trade tickets to support automated booking for individual trades.
Clients interested in further improving their straight-through processing (STP) rates may utilise CLT’s new STP capabilities for return and recall messages, says EquiLend.
Beyond acting as a central trading hub, EquiLend says that CLT removes duplication inherent in manual bookings and eliminates risk incurred through rekeying trade details, enabling counterparties to use existing NGT messaging protocols to communicate trading and post-trade information.
Accessible via the same portal as their other NGT trading activity, CLT enables users to view their balances across multiple counterparties and manage their collateral baskets accordingly, including flexibility to negotiate fixed, evergreen and extendable trade baskets.
In an extension to its service, CLT now supports bid and offer workflow for collateral baskets combining any type of assets or collateral, including equity-for-equity and equity-for-cash.
Users agreeing to basket terms and allocations can receive standard NGT shared trade tickets to support automated booking for individual trades.
Clients interested in further improving their straight-through processing (STP) rates may utilise CLT’s new STP capabilities for return and recall messages, says EquiLend.
Beyond acting as a central trading hub, EquiLend says that CLT removes duplication inherent in manual bookings and eliminates risk incurred through rekeying trade details, enabling counterparties to use existing NGT messaging protocols to communicate trading and post-trade information.
Accessible via the same portal as their other NGT trading activity, CLT enables users to view their balances across multiple counterparties and manage their collateral baskets accordingly, including flexibility to negotiate fixed, evergreen and extendable trade baskets.
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