Anvil wins West Yorkshire securities lending contract; opens New York office
31 July 2002 | 2691 views | 0
West Yorkshire Pension Fund (WYPF) has chosen Anvil Software's Arts solution as its new securities lending platform.
WYPF is one of a relatively few UK local authority pension funds that uses stock lending activity to make money for their portfolios. WYPF has its own internal lending desk, and lends securities to the permitted 25% limit of the portfolio.
Arts is a front and middle office trading system for international repo and securities finance. Using the system, WYPF can easily manage positions, find out what is lendable and check on lending limits, says the company.
Installation of the system is already underway and is expected to be complete by August.
Stuart Imeson, head of pensions and investments at WYPF, notes: "Anvil have made the installation process as easy as possible for us – dealing with software requirements, helping on hardware and organising integration with other systems."
In a separate announcement, Anvil Software has opened a new office in New York, to provide a permanent presence for existing and new US customers. Anvil also has offices in London and Sydney.