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Global securities lending revenue rises 47% YoY for May
04 June 2026 Global
Image: fivan/stock.adobe.com
The global securities lending industry surpassed the previous single-month record, set in July 2025, by generating US$1.82 billion in May, representing a 47 per cent increase year-on-year (YoY), according to EquiLend Data & Insights.
Record highs across several major indices, including the Nikkei 225, Nasdaq Composite, and TSX Composite, pushed average loan balances to just under US$4.6 trillion.
The lender-to-broker market generated US$1.38 million in May 2026, a 45 per cent increase from the same month last year.
Over the same period, broker-to-broker activity accounted for an additional US$435 million, up 53 per cent.
Equities led the month’s performance, with lender revenue reaching US$1.11 billion, up 51 per cent YoY.
Fixed income revenues rose to US$274 million, a 25 per cent increase YoY.
Within the lender-to-broker division, North American equity revenue climbed 12 per cent YoY, driven by a 41 per cent increase in loan balances that offset a 10 per cent decline in fees.
Corporate bond lending revenue increased 19 per cent to US$45 million, led by a 48 per cent increase in investment-grade lending revenue.
Government bond lending revenue rose 30 per cent YoY, while US Treasury loan balances increased 19 per cent.
Lender-to-broker revenue for EMEA equities increased by 66 per cent YoY, to US$269 million.
Loan balances and fees each increased 30 per cent, largely due to seasonal and other corporate action-related activity.
Corporate debt lending revenue increased 9 per cent, as a 18 per cent rise in loan balances offset a 7 per cent decline in fees.
For the second consecutive month, APAC remained the leading global equity lending region, with lender-to-broker revenue rising 108 per cent YoY, with Taiwan, Hong Kong, and Korea being the top lending markets in the region.
Single-stock revenue leaders for May were Infosys LTD ADR, Koninklike Philips, SoundHound AI, Pop Mart International, and Telecom Italia Spa Di Riso, which collectively generated US$102 million, or 7 per cent of all lender-to-broker revenue.
Record highs across several major indices, including the Nikkei 225, Nasdaq Composite, and TSX Composite, pushed average loan balances to just under US$4.6 trillion.
The lender-to-broker market generated US$1.38 million in May 2026, a 45 per cent increase from the same month last year.
Over the same period, broker-to-broker activity accounted for an additional US$435 million, up 53 per cent.
Equities led the month’s performance, with lender revenue reaching US$1.11 billion, up 51 per cent YoY.
Fixed income revenues rose to US$274 million, a 25 per cent increase YoY.
Within the lender-to-broker division, North American equity revenue climbed 12 per cent YoY, driven by a 41 per cent increase in loan balances that offset a 10 per cent decline in fees.
Corporate bond lending revenue increased 19 per cent to US$45 million, led by a 48 per cent increase in investment-grade lending revenue.
Government bond lending revenue rose 30 per cent YoY, while US Treasury loan balances increased 19 per cent.
Lender-to-broker revenue for EMEA equities increased by 66 per cent YoY, to US$269 million.
Loan balances and fees each increased 30 per cent, largely due to seasonal and other corporate action-related activity.
Corporate debt lending revenue increased 9 per cent, as a 18 per cent rise in loan balances offset a 7 per cent decline in fees.
For the second consecutive month, APAC remained the leading global equity lending region, with lender-to-broker revenue rising 108 per cent YoY, with Taiwan, Hong Kong, and Korea being the top lending markets in the region.
Single-stock revenue leaders for May were Infosys LTD ADR, Koninklike Philips, SoundHound AI, Pop Mart International, and Telecom Italia Spa Di Riso, which collectively generated US$102 million, or 7 per cent of all lender-to-broker revenue.
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