Yesterday Equilend confirmed that BNY has made a minority investment in the securities lending platform, following last year’s private equity buyout by Welsh, Carson, Anderson & Stowe. Before that Equilend was entirely bank owned. It also confirmed that BNY will be amongst initial users of 1Source, the DLT based securities lending solution.
BNY has been using Equilend’s solutions for twenty years. The securities lending platform enables around $2.9 trillion in on-loan assets.
Meanwhile, 1Source is designed to improve efficiencies. With DLT providing a so-called single source of truth for data, it should remove the need for reconciliations. Existing securities lending solutions handle the initial transactions just fine.
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