SunGard integrates Loanet with AQS securities lending market
SunGard has expanded its Loanet securities finance solution to automate borrow order submissions to Quadriserv's AQS securities lending platform, which is a central counterparty-based market that offers automated securities lending trading in over 5,000 underlying equity, ETF, index, and ADR products.
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Integrating their AQS borrowing activity into their pre-existing automated Loanet Centralized Order Routing workflow will help Loanet customers increase efficiency, streamline their operations and create a true straight-through process for borrowing in the AQS marketplace.
Borrowers can use their existing Loanet order routing interfaces, eliminating the need to manually submit AQS orders or develop or support separate interfaces to AQS. Loanet captures executed and non-executed AQS orders directly into its straight-through-processing environment.
John Grimaldi, executive vice president of SunGard's North American securities operations and securities finance business, said, "The securities finance industry continues to move towards automated trading and is constantly looking at ways to streamline its trading activities. Providing a single point of access to both the AQS and bilateral marketplaces moves the industry towards a centralized trading infrastructure while improving efficiencies around the borrowing process."
"Seamless connectivity to AQS through Loanet greatly advances our goal of expanding access to the AQS marketplace to a broad range of industry participants," Bruce Turner, Quadriserv's president and chief operating officer, said. "To that end, SunGard's Loanet Order Routing Service has been a tremendous success, and we are pleased that corresponding order flow is migrating to the AQS centrally cleared model."