EquiLend heads down under 14 October 2014New York Reporter: Stephen Durham
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EquiLend has received regulatory clearance from the Australian Securities and Investments Commission (ASIC) to operate its securities finance trading platform domestically in the market.
The platform went live for trading among domestic firms on 8 October and trades between Australian entities were executed on the platform from the first day of trading.
Australian securities have historically been traded on the EquiLend and BondLend platform via offshore entities.
Post-trade services provided by EquiLend and BondLend were already used by domestic Australian market participants.
Brian Lamb, CEO of EquiLend, said: “We are pleased to be able to offer our trading services to domestic firms in Australia, who now have access to the efficiencies and automation EquiLend brings to securities finance market participants around the globe.”
Due to the market’s size and maturity, EquiLend anticipates Australia being one of the most active markets on its platform in the Asia-Pacific region.
EquiLend also launched domestic trading services in the South African market earlier in 2014, adding to its existing operations in the US, Canada and Europe.
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