CIBC Mellon taps EquiLend for securities lending transactions
Today, CIBC Mellon Global Securities Services Company announced that it will implement EquiLend's suite of services to encourage greater efficiency in securities borrowing and lending, and to increase revenue potential for its clients.
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"EquiLend is a global standard in securities lending automation technology," said James Slater, senior vice president and head of capital markets, CIBC automates formerly manual trading and post-trade processes. Mellon. "By introducing EquiLend's AutoBorrow and Trade2O capabilities to our desk, securities borrowers can expect to enjoy more efficient lending through a familiar interface, and we expect this will drive higher lending volumes for our clients."
CIBC Mellon has relied on EquiLend's back-office solutions since 2007 and the company is expanding its partnership by implementing EquiLend's new services. This decision follows EquiLend's announcement that it has received regulatory approval from the Investment Industry Regulatory Organization of Canada to operate as an alternative trading system in Ontario.