EquiLend, the global fixed income and equity securities lending platform today announced the launch of a new trading service and paperless billing service designed to improve its trading and operational functionality.
These new services follow January's announcement of EquiLend's move to support the borrowing and lending of U.S. Treasury and Agency securities on the platform.
EquiLend's new trading service, AutoBorrow Express(SM) is designed for use by firms with lower trading volumes that seek trading access to their counterparties through EquiLend's AutoBorrow service. Operational enhancements further provide increased back-office efficiency for any size organisation with a securities lending program, such as EquiLend's new paperless billing delivery service, which allows EquiLend clients to send monthly electronic bills to each of their counterparties, eliminating the need to print and mail hard-copy statements, delivering efficiencies to both organisations.
"As use of the EquiLend platform grows, our clients continue to help us conceive, build and deliver services that help them realise efficiencies in their day-to-day operations," states Melissa Hodson, Director of Client Services at EquiLend. "These new enhancements are a result of true collaboration and will have an immediate positive impact on our clients' business."
EquiLend separately announced that it has reached US$2 trillion in total value of transactions conducted through the platform since its launch in late June 2002.