EquiLend and BondLend launch Trade Match 01 April 2015New York Reporter: Stephen Durham
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EquiLend and BondLend have launched Trade Match, which provides an automated way to compare pre-settlement, cross-product securities finance transactions.
Trade Match reconciles all the trade components of either the start or close leg of each trade type.
The software’s exception management reporting prioritises the core pending settlement risk items for the users, helping them to reduce fails and rectify trade economic discrepancies on a real-time basis.
According to the service providers, Trade Match recognises nuances between equity and fixed income clients.
BondLend clients will be able to use reconciliation terms specific to the fixed income business, offering the flexibility to handle different trade types.
Trade Match is also compatible with One File connectivity, EquiLend’s new workflow for streamlined build-out to EquiLend’s post-trade services.
Brian Lamb, CEO of EquiLend, said: “We have heard clients’ concerns around the changing regulatory environment and reduction of settlement cycles.”
“Coupled with the industry focus on developing best practices, we are excited to offer a tool to help clients reduce risk on their pending trades.”
“By leveraging Trade Match, an automated solution, we allow firms to be scalable with their business.”
Trade Match is available immediately to existing post-trade clients of EquiLend and will be available on 27 April 2015 for BondLend clients.
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