Barclays Africa Goes Live on EquiLend
In addition, the Absa-EquiLend partnership allows global market participants greater access to the South African financial services market.
"Partnering with EquiLend was a natural step for Barclays Group Africa in becoming the ‘go-to' prime brokerage business," says Francois Henrion, head of equity finance within Absa's Prime Services business.
EquiLend Holdings ─ founded in 2001 and owned by a consortium of financial institutions, including BlackRock, Credit Suisse, Goldman Sachs, JPMorgan Clearing, JPMorgan Chase, Bank of America Merrill Lynch, Morgan Stanley, Northern Trust, State Street and UBS ─ is designed to optimize efficiencies in the securities finance industry. It provides its clients with services stemming from the standardization, centralization and automation of front- and back-office processes, along with tools designed to assist firms in mitigating the risks created by complex trade settlements.
Anticipation
EquiLend anticipates a growing clientele in South Africa due to the Johannesburg Stock Exchange moving toward a shorter securities settlement cycle, from the current T+5 (trade day plus five days) cycle to T+3, thus increasing the pressure on firms to optimize their trade settlements.
"As EquiLend's global footprint continues to expand, we are constantly aware of our clients' demands to bring the automation and efficiency gains seen for users of our platform to new markets," explains Brian Lamb, CEO of EquiLend. "We have seen significant interest among domestic market participants in South Africa, who are keen to elevate their international presence by joining the EquiLend platform. We anticipate considerable growth in this market going forward."
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 Emerging Technologies
S&P debuts Spark Assist genAI copilot, draws up ‘Blueprints’ of combined datasets
S&P’s Kensho subsidiary has rolled out new emerging tech products leveraging AI to explore and combine the vendor’s wealth of datasets to solve common use cases.
Nasdaq reshuffles tech divisions post-Adenza
Adenza is now fully integrated into the exchange operator’s ecosystem, bringing opportunities for new business and a fresh perspective on how fintech fits into its strategy.
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.
Verafin launches genAI copilot for fincrime investigators
Features include document summarization and improved research tools.
Waters Wrap: Open source and storm clouds on the horizon
Regulators and politicians in America and Europe are increasingly concerned about AI—and, by extension, open-source development. Anthony says there are real reasons for concern.
Waters Wavelength Podcast: Broadridge’s Joseph Lo on GPTs
Joseph Lo, head of enterprise platforms at Broadridge, joins the podcast to discuss AI tools.
Man Group CTO eyes ‘significant impact’ for genAI across the fund
Man Group’s Gary Collier discussed the potential merits of and use cases for generative AI across the business at an event in London hosted by Bloomberg.
BNY Mellon deploys Nvidia DGX SuperPOD, identifies hundreds of AI use cases
BNY Mellon says it is the first bank to deploy Nvidia’s AI datacenter infrastructure, as it joins an increasing number of Wall Street firms that are embracing AI technologies.
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