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Maybank Investment Bank Berhad (Maybank IB) partners with Broadridge Financial Solutions to grow its securities borrowing and lending business by creating a front-to-back platform that is fast, transparent and Shariah-compliant.
The newly launched SBL platform for institutional investors uses Broadridge’s Securities Finance and Collateral Management (SFCM) solution.
Maybank IB says the SBL platform has the ability to interface with downstream systems, enabling automation and straight-through processing, resulting in enhanced client experience and improved cost management. Its scalability aims to offer flexibility to expand into other regions.
Commenting on the announcement, Darren Crowther, head of securities finance and collateral management at Broadridge, says: "We are thrilled to strengthen our partnership with [Maybank IB] and jointly deliver our securities lending and borrowing service offering, encompassing multi-custody principal and agency trading models.
"In today's complex global markets, businesses require solutions that enable rapid startup, capture growth opportunities, integrate seamlessly with internal and external systems, meet regulatory obligations and streamline operations. Broadridge's SFCM solution empowers firms to navigate these challenges successfully."
Tengku Ariff Azhar, chief operating officer at Maybank Investment Bank, comments: “The combined expertise of Broadridge and Maybank IB resulted in a comprehensive end-to-end platform with trading capabilities, operational efficiency and connectivity.
“This partnership enabled us to bring this product to market while adhering to the regulatory framework provided by Bursa Malaysia. We target to be the first in Malaysia to offer Shariah-compliant SBL for retail investors next year.”
