Wematch.SecuritiesFinancing completes first securities lending trade
19 September 2017 London
Image: Shutterstock
Digital broker Wematch.SecuritiesFinancing completed its first securities lending trade yesterday.
The counterparties were Bank of America Merrill Lynch and ABN Amro, trading in French equities.
Wematch.SecuritiesFinancing launched in February with an initial focus on total return swaps and European equities.
The broker's securities lending and repo services went live on 18 September along with an expanded the list of available asset classes.
According to Wematch CEO David Raccat, formerly of BNP Paribas, the platform promises to make the bridge between supply and demand with a focus on increasing liquidity.
The platform already received more than $1.5 trillion worth of interest and circa $8 billion of swaps have been confirmed, as of August.
Commenting on the first trade, Raccat said: "I am extremely happy to see that two top-tier counterparts have traded through Wematch on the very first day of the new release and we are all looking forward to seeing the liquidity growing in the platform now that all securities financing products and all asset classes are live.
The counterparties were Bank of America Merrill Lynch and ABN Amro, trading in French equities.
Wematch.SecuritiesFinancing launched in February with an initial focus on total return swaps and European equities.
The broker's securities lending and repo services went live on 18 September along with an expanded the list of available asset classes.
According to Wematch CEO David Raccat, formerly of BNP Paribas, the platform promises to make the bridge between supply and demand with a focus on increasing liquidity.
The platform already received more than $1.5 trillion worth of interest and circa $8 billion of swaps have been confirmed, as of August.
Commenting on the first trade, Raccat said: "I am extremely happy to see that two top-tier counterparts have traded through Wematch on the very first day of the new release and we are all looking forward to seeing the liquidity growing in the platform now that all securities financing products and all asset classes are live.
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