EquiLend recruits Moroney, reveals NGT value
09 May 2016 New York
Image: Shutterstock
EquiLend has appointed James Moroney as director and trading product specialist.
Moroney, who will be based in New York, will be liaising with clients and working on the continued rollout of the Next Generation Trading (NGT) platform.
Moroney said: “I have been an EquiLend user for many years and am intimately familiar with the efficiency and benefits of its broad service offering as the leading provider of securities finance technology.”
“I am very excited to join EquiLend and help bring NGT, which is truly transforming the way securities finance industry trades, to the global marketplace.”
He brings more than two decades of experience in securities finance and related industries to the role.
Prior to joining EquiLend, Moroney was managing director and head of North American equities trading within State Street’s securities lending business.
Brian Lamb, CEO of EquiLend, commented: “Jim Moroney’s many years of experience in the securities finance industry, especially his broad trading expertise, are a great asset to EquiLend. We are thrilled to welcome Jim to the team.”
The NGT platform, which launched in April 2015, has shown strong growth in trading volume and client use over the past 12 months.
Currently, 62 of EquiLend’s more than 100 clients are onboarding to NGT and an average of 31 are already using it for daily trading.
The latest NGT data valued the daily average notional traded on the platform at $1.4 billion, with 77 percent of trades considered ‘warm’ and ‘hot’ versus 15 percent AutoBorrow.
There are also 14,000 indication of interest trade requests received and processed daily.
Moroney, who will be based in New York, will be liaising with clients and working on the continued rollout of the Next Generation Trading (NGT) platform.
Moroney said: “I have been an EquiLend user for many years and am intimately familiar with the efficiency and benefits of its broad service offering as the leading provider of securities finance technology.”
“I am very excited to join EquiLend and help bring NGT, which is truly transforming the way securities finance industry trades, to the global marketplace.”
He brings more than two decades of experience in securities finance and related industries to the role.
Prior to joining EquiLend, Moroney was managing director and head of North American equities trading within State Street’s securities lending business.
Brian Lamb, CEO of EquiLend, commented: “Jim Moroney’s many years of experience in the securities finance industry, especially his broad trading expertise, are a great asset to EquiLend. We are thrilled to welcome Jim to the team.”
The NGT platform, which launched in April 2015, has shown strong growth in trading volume and client use over the past 12 months.
Currently, 62 of EquiLend’s more than 100 clients are onboarding to NGT and an average of 31 are already using it for daily trading.
The latest NGT data valued the daily average notional traded on the platform at $1.4 billion, with 77 percent of trades considered ‘warm’ and ‘hot’ versus 15 percent AutoBorrow.
There are also 14,000 indication of interest trade requests received and processed daily.
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