EquiLend and Broadridge announce partnership to streamline central clearing of securities finance transactions

<img width="562" height="339" src="https://www.leaprate.com/wp-content/uploads/2020/08/Broadridge-revenue.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="Broadridge Financial Solutions" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2020/08/Broadridge-revenue.jpg 730w, https://www.leaprate.com/wp-content/uploads/2020/08/Broadridge-revenue-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2020/08/Broadridge-revenue-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2020/08/Broadridge-revenue-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2020/08/Broadridge-revenue-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2020/08/Broadridge-revenue-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>Users of EquiLend 1Source, a DLT-based source of information for the securities finance industry, will be able to direct securities lending trades seamlessly to the NSCC for central clearing via Broadridge’s Trade Submitter Service.</p>
<p>Darren Crowther, Head of Securities Finance Services, Broadridge, said:</p>
<blockquote><p>We are delighted to be able to offer our joint clients straight-through processing to central clearing via our SFT Submission Service platform. Interoperability across our platforms as well as the entire trade lifecycle event workflow, will enable our clients to benefit from the advantages of the NSCC offering while minimizing the time to market due to our out-of-the box connectivity.</p></blockquote>
<p>The newly launched SFT Submission Service from Broadridge allows market participants to meet the NSCC requirements to match and submit via an Approved Trade Submitter.</p>
<p>According to the official announcement, over 2.2 million global transactions are executed on EquiLend’s Next Generation Trading (NGT) platform per month, amounting to $2 trillion in total notional value. US equities, which make up the largest segment of securities on loan in the global securities finance markets, are eligible for central clearing with the NSCC.</p>
<p>Earlier in April, <a href="https://www.leaprate.com/tag/broadridge/" target="_blank" rel="noopener">Broadridge</a> launched a <a href="https://www.leaprate.com/forex/institutional/broadridge-introduces-integrated-solution-with-faster-time-to-markets-and-reduced-cots/" target="_blank" rel="noopener">new trading solution</a> aiming to improve the straight-through processing, reduce risk, and improve trading decisions.</p>
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