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Sec lending/cash financing

Survey questionnaire
Rate your providers on up to 14 service elements
All responses will be treated in the strictest confidence

Equity finance

Provision of a range of financing and investment solutions using securities (for example, equity repos and buy sell back, in addition to securities lending and borrowing) all subject to appropriate written agreements.


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Securities lending

Certain firms need to borrow securities in order to cover their settlement obligations in the event of failed trades or taking short positions, or to take advantage of arbitrage and other opportunities. Institutions with large portfolios of securities are attractive to securities borrowers. Accordingly, global custodians provide securities lending services, typically with the custodian as agent matching its clients with approved borrowers. The custodian oversees the posting of collateral by the borrower, collects dividends and other economic benefits for the lender during the life of each loan and shares in the lending fee payable by the borrower. The lender can terminate a loan at any time, generally with recall notice of three business days.


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Collateral safekeeping

Collateral assets, while not owned by the client, are held by the service provider in a designated account so that they are safe-kept for the client's benefit and the client benefits from reporting on all such assets.


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Collateral reinvestment

The service provider reinvests cash collateral under terms agreed with the client.


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Collateral risk reporting

The service provider provides the client with timely reporting on collateral risks (such as timing mismatches between stock loan period and reinvestment term or exposure to long reinvestment maturities in case adverse market conditions arise and the stock loan is to be recalled).


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Fairness algorithm

A set of rules to ensure each participating client is treated fairly and equitably as regards the opportunity to loan their securities.


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Automated program

The provision of a securities lending/borrowing service which operates according to pre-agreed guidelines, without the need for a client to accept or reject each individual opportunity.


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Sec lending auctions: client-driven

A client may choose to release some assets to an agency stock lending arrangement but also to look to lending auctions to achieve higher returns for certain asset classes. Here, the service provider facilitates this arrangement, allowing the client to enter into deals via such auctions.


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Sec lending auctions: proactive

The service provider, acting as agent for the client, puts out some asset classes to auction (under a standing instruction).


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Exclusive lending: client-driven

A client may loan certain assets under an exclusive deal with one borrower. The service provider facilitates this.


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Exclusive lending: proactive

The service provider, acting as agent for the client, places certain assets out to loan under an exclusive deal with a borrower (under a standing instruction).


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Support for timely recalls

Processes are in place to support the timely recall of secuities on loan should they be required by the client for sale


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Idemnity for counterparties

Provision of an indemnity to a client should a counterparty fail and there is any shortfall of collateral.


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Support for principal lending

Provision of a program for borrowing securities from a client as principal and paying a fee directly to the client


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