Absa Capital Goes Live with SunGard's Global One
South Africa-based Absa Capital has implemented upgrades of SunGard's Global One stock-lending platform.
Global One supports activities pertaining to the lending of securities, including borrowing and lending, as well as buy/sell backs and repos (repurchase agreements). It covers trade processing, operations and reporting within lending activities, and has been interfaced with South Africa's central securities depository Strate (Securities Transactions Totally Electronic, the country's electronic settlement system) to support activities on the Johannesburg Stock Exchange, and off-market trades. The upgrades also allow for increased compliance with regulatory measures mandated by Strate.
Absa Capital is the investment banking arm of Absa Bank, an affiliate of Barclays Capital, headquarted in Johannesburg with offices in Durban and Cape Town.
"SunGard's Global One provides Absa Capital with a sound securities-lending system that helps increase our competitiveness," says Chris Edwards, head of prime services at Absa Capital. "It is also helping us achieve our objective of straight- through processing, thereby making our offerings more attractive to our clients. Support from SunGard and its commitment to deliver on time further assist our business in our quest for continued growth and maintaining that competitive advantage."
What is securities lending?
Securities lending refers to the activity of lending securities in the pursuit of long and short positions for profit. For example, a securities lender, typically a large institutional investor such as a pension or mutual fund, will loan securities to a short-seller such as a hedge fund, which is usually required to put up substantial collateral to "guarantee" the loan. The short seller (fund) then sells the security, with the aim of buying it back at a lower price at a predetermined date in the future, thus turning a profit, before returning the security to the lender.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Liquidnet sees electronic future for gray bond trading
TP Icap’s gray market bond trading unit has more than doubled transactions in the first quarter of 2024.
This Week: HKEx's new derivatives platform; GoldenSource; Quonian-SimCorp, and more
A summary of some of the latest financial technology news.
Chris Edmonds takes the reins at ICE Fixed Income and Data Services
Edmonds is now leading ICE’s fixed income and data business as the rush to provide better data and analytics in fixed income builds.
Systematic tools gain favor in fixed income
Automation is enabling systematic strategies in fixed income that were previously reserved for equities trading. The tech gap between the two may be closing, but differences remain.
Waters Wrap: Examining the changing EMS landscape
After LSEG’s decision to sunset Redi, Anthony examines what might lie ahead for the EMS space.
This Week: Clear Street, AXA/AWS, TD Bank/Google Cloud and more
A summary of the latest financial technology news.
LSEG to sunset Redi EMS in favor of Tora
Sources say competitors will look to seize on the decision to win over Redi’s sizeable US client base.
Most read
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- Deutsche Börse democratizes data with Marketplace offering
- Waters Wavelength Podcast: Broadridge’s Joseph Lo on GPTs