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Industry Squeezes SEC on Sec Loan Reporting

June 14, 2022 By Chris Kentouris Leave a Comment

Wall Street continues to turn up the heat against the US Securities and Exchange Commission’s proposal for transaction reporting on securities loans, citing its contradictory analysis on short position and short activity reporting as well as potential operational shortcomings. The SEC recently reopened the comment period for its proposed securities loan reporting plan to adopt […]

Filed Under: Risk, Sec Lending Tagged With: Brokerage Ops, Compliance, Custodians, Fund Ops, SEC, Sec Lending

US SEC Loan Reporting: Ops Cost of Transparency

January 18, 2022 By Chris Kentouris Leave a Comment

The operational and legal challenges of complying with the US Securities and Exchange Commission’s potential requirement to report information on securities loan transactions to the Financial Industry Regulatory Authority could outweigh the benefits of transparency to investors, say operations and legal experts. Instead of offering any feedback to the SEC’s proposal, some industry players asked […]

Filed Under: Risk, Sec Lending Tagged With: Brokerage Ops, Compliance, Custodians, Fund Ops, SEC, Sec Lending

Race to the Patent Office for Syndicated Loan Blockchain

August 29, 2020 By Chris Kentouris Leave a Comment

The results of a behind the scenes battle brewing between blockchain technology startup Hashlynx and mega-bank Bank of America to win a patent for a distributed ledger-based technology platform could end up determining how the operational difficulties inherent in the US$2 trillion paper-intensive syndicated loans market are eliminated and by whom. Whoever is awarded a […]

Filed Under: Compliance, Data, Investments, Investors, Sec Lending, Settlement Tagged With: Blockchain, Crypto, Data, Fund Ops, Investors, Sec Lending, Settlement

EquiLend, Prime Brokers Sued: Collusion or Fair Game?

November 29, 2017 By Chris Kentouris Leave a Comment

Prime brokers harmed beneficial owners of securities by protecting their turf and sabotaging fledgling electronic securities lending platforms that could have helped buy-side firms earn more revenues from their loans. That is the claim of four US pension plans and one trading firm that have sued six mega US prime brokers and securities lending platform EquiLend […]

Filed Under: Data, Sec Lending, Slider, Trading Tagged With: Collateral, Data, DTCC, Fund Ops, Hedge Funds, Sec Lending

Can Blockchain Supercharge Syndicated Loans?

November 21, 2017 By Chris Kentouris Leave a Comment

Editor’s Update (4/26/2018): Finastra announced on April 24 that its Fusion LenderComm platform was commercially available, as an app on R3s Corda platform. Agent banks in the syndicated loan market can publish lender-specific deal positions on the ledger eliminating the need for lenders to query their agent banks about transaction history by phone, fax or […]

Filed Under: Compliance, Investments, Investors, Sec Lending, Settlement, Slider, Uncategorized Tagged With: Fund Ops, Sec Lending, Settlement

Central Clearing for US Sec Lending: Coming Soon?

February 5, 2015 By Chris Kentouris Leave a Comment

Central clearing: it’s a well-established concept for settling equities, fixed-income and now swap transactions. But not in the US securities lending market, where Eurex Clearing now wants to establish a new service, but could face an uphill climb, despite enlisting two of the world’s largest custodian banks BNY Mellon and State Street to help out.  Granted, OCC in […]

Filed Under: Risk, Sec Lending, Slider Tagged With: Brokerage Ops, Clearinghouses, Collateral, Compliance, Custodians, Fund Ops, Sec Lending

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