Wematch has launched a matching protocol dedicated to securities lending on exchange-traded funds (ETF).
Wematch is a global multi-asset-class, web-based matching and negotiation platform that aims to provide software-as-a-service technology to transform how traders match, negotiate and manage trades.
The new feature is addressing the complexity of the European ETF market, where one single international securities identification number can be associated with multiple stock exchange daily official list and can be custodied in multiple locations.
Wematch aims to provide lenders and borrowers with the most granular information as soon as the match is identified and will help them in their decision-making process before confirming any trade, with a view to optimise the workflow and to minimise all settlement risks and costs.
The new product, Wematch says, is in response to its clients’ demands for more efficient ways to manage risks and streamlining their trading processes across this asset class.
The Wematch platform was first launched in 2017 by David Raccat and his team as a platform aimed at disrupting the dealing process of securities financing markets. It has steadily built out its offering since then with new products and senior hires, as well as becoming available in new markets.
Elsewhere, Wematch has also secured a number of key partnerships in the securities finance market, including with Pirum Systems and J.P. Morgan.
