EquiLend’s collateral trading service goes live
24 February 2020 New York
Image: Shutterstock
EquiLend’s much-anticipated collateral trading service has gone live.
Clients from the Americas and Europe were active on the service as it went live today, with users in Asia set to join in April.
Many of the counterparties were involved in the EquiLend collateral trading working group.
EquiLend Collateral Trading aims to offer funding and financing desks a centralised way to execute and manage trade structures with their counterparties.
The new workflow supports collateral trade negotiation, execution and management of lifecycle events, such as substitutions and transaction rolls, EquiLend says.
The initial rollout supports collateral upgrade and downgrade trades and the service promises to meet client needs for high-quality liquid assets to meet regulatory demands.
According to EquiLend, their collateral trading service assists clients with their Securities Financing Transactions Regulation and Central Securities Depositories Regulation obligations through its tools for unique transaction identifiers, legal entity identifiers and transaction timestamps, which are produced at the point of trade.
EquiLend has confirmed it is already planning further enhancements, including additional collateral trade types and straight-through processing capabilities and connectivity to EquiLend Spire’s books and records and inventory management modules.
Brian Lamb, CEO of EquiLend, says: “In the same way NGT revolutionised securities finance trading, and Swaptimisation brought unparalleled liquidity and efficiency to the swaps industry, we believe EquiLend Collateral Trading is set to transform collateral trading and management.”
Clients from the Americas and Europe were active on the service as it went live today, with users in Asia set to join in April.
Many of the counterparties were involved in the EquiLend collateral trading working group.
EquiLend Collateral Trading aims to offer funding and financing desks a centralised way to execute and manage trade structures with their counterparties.
The new workflow supports collateral trade negotiation, execution and management of lifecycle events, such as substitutions and transaction rolls, EquiLend says.
The initial rollout supports collateral upgrade and downgrade trades and the service promises to meet client needs for high-quality liquid assets to meet regulatory demands.
According to EquiLend, their collateral trading service assists clients with their Securities Financing Transactions Regulation and Central Securities Depositories Regulation obligations through its tools for unique transaction identifiers, legal entity identifiers and transaction timestamps, which are produced at the point of trade.
EquiLend has confirmed it is already planning further enhancements, including additional collateral trade types and straight-through processing capabilities and connectivity to EquiLend Spire’s books and records and inventory management modules.
Brian Lamb, CEO of EquiLend, says: “In the same way NGT revolutionised securities finance trading, and Swaptimisation brought unparalleled liquidity and efficiency to the swaps industry, we believe EquiLend Collateral Trading is set to transform collateral trading and management.”
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