ZKB Signs on to Use EquiLend PlatformBy Equilend, PRNE
Sunday, May 22, 2011
LONDON, May 23, 2011 -
EquiLend announced today that the Zurcher Kantonalbank Bank (ZKB) has
signed on to use EquiLend's trading and post trade services. ZKB initially
plans to utilize the automated securities finance platform to lend their
securities via EquiLend's AutoBorrow and Availability services.
Laurence Marshall, Head of EquiLend Europe, comments, "We are very
pleased to welcome ZKB to our platform utilizing both our trade and post
trade services. As the 11th client to join this year, it highlights the
growing importance of EquiLend to the European region."
Felix Oegerli, Head Liquidity Management, Short Term Interest Rates and
Prime Finance, ZKB states, "We see the securities lending business becoming
more competitive in the years to come. Maximised trading efficiency will be
essential to implement as it results in lower unit costs. We look to the
inherent capabilities of the EquiLend platform, such as automation and
scalability, to allow us to maintain our competitive edge whilst reducing
EquiLend is a leading provider of trading services for the securities
finance industry. With its robust suite of automated trading tools, EquiLend
enables its clients to scale their businesses with great efficiency on a
global basis in all securities finance markets. Used by borrowers and lenders
throughout the world, the EquiLend platform automates formerly manual trading
and post-trade processes. Using EquiLend's complete end-to-end services
reduces the risk of potential errors and eliminates the need to maintain
costly point-to-point connections while allowing firms to drive down unit
costs. Firms can then free more resources to expand their business and grow
trading volumes without increasing costs. This makes the EquiLend platform a
cost-effective choice for all institutions, regardless of their size.
EquiLend LLC, EquiLend Europe Limited, and EquiLend Canada Corp. are
subsidiaries of EquiLend Holdings LLC (collectively, "EquiLend"). EquiLend
LLC is a member of the FINRA and SIPC. EquiLend Europe Limited is authorized
and regulated by the Financial Services Authority. EquiLend Canada Corp. is
authorized and regulated by IIROC. All services offered by EquiLend are
offered through EquiLend LLC, EquiLend Europe Limited, and EquiLend Canada
Corp. EquiLend and the EquiLend mark are protected in the United States and
in countries throughout the world.
ZKB is Switzerland third largest Universalbank with a strong foothold in
asset management and investment banking. ZKB is top rated by all major rating
agencies. The Prime Finance desk is part of the investment banking division.
ZKB is mainly a securities lending and collateralised cash funding liquidity
provider in all major markets and currencies.
Jonathan Hodder, +44-(0)-20-7426-4419, jonathan.hodder at equilend.com
Tags: England, EquiLend, London, May 23, Switzerland