SecFinex, an electronic marketplace for securities lending in all major European, US and Japanese equity markets established by the NYSE Euronext group, has announced that JPMorgan has bec
SecFinex, an electronic marketplace for securities lending in all major European, US and Japanese equity markets established by the NYSE Euronext group, has announced that JPMorgan has become the platform’s newest participant.
SecFinex is an independent electronic trading platform that allows securities financing professionals worldwide to arrange securities financing trades. Its more than 40 registered participants, who gain access via a secure internet connection, include a cross-section of European lenders, borrowers and intermediaries. SecFinex is currently expanding asset class coverage to the borrowing and lending of exchange-traded funds.
JPMorgan’s equity finance unit works closely with the group’s custody, tri-party services and broker dealer to provide clients with borrowing, lending and collateral services. The bank’s stock borrow loan team has traders in London and other international locations.
‘We are pleased to be joining SecFinex at this stage in its development as we consider SecFinex to be one of the market-leading technologies helping to transform the stock borrow loan market,’ says Lee Olley, a managing director for equity finance at JPMorgan.
SecFinex chief executive Peter Fenichel says: ‘JPMorgan is a prestigious client that will offer significant relationship opportunity to our existing and expanding client base. By joining us at this time, JPMorgan has the opportunity to influence the way our platform develops through new technology and new business models.’
SecFinex enables participants to agree stock loan trades efficiently and anonymously with each other on a price-driven system. Traders can hit bids and lift offers on a ‘click and done’ basis and view current market trading activity in a live screen-based trading environment.
