Nomura joins EquiLend
07 May 2003 | 3731 views | 0
Nomura has become the first Asian headquartered financial institution to join the dealer-backed EquiLend global securities lending platform.
EquiLend - founded by Barclays Global Investors, Bear Stearns, Goldman Sachs, JPMorgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley, Northern Trust, State Street and UBS Warburg - offers its participants daily access to more than $1 trillion in lendable securities. The platform claims to have handled more than $350 billion in stock loans since going live nine months ago.
Dirk Pruis, president and CEO of EquiLend says that forming a connection with Asian market participants has been a top priority from the start.
"Nomura's decision to participate reflects the increasing global interest in our industry's vision for an open electronic platform," he says.
Anthony Venditti, managing director of Nomura's equity finance business, adds: "We strongly support EquiLend's vision of a centralised hub to facilitate lending and create new opportunities to streamline transaction processing."