Wall Street powerhouse BNY takes minority stake in EquiLend

Reuters

Thu, Mar 13, 2025, 6:10 AM 1 min read

(Reuters) - EquiLend, a fintech astatine the bosom of securities lending connected Wall Street, said connected Thursday it has secured a number concern from an affiliate of U.S. banking elephantine BNY.

The securities lending manufacture enables investors to get and lend stocks, bonds and different assets to facilitate liquidity absorption and trading strategies.

Major banks, plus managers and hedge funds trust connected securities lending to optimize portfolio returns and conscionable regulatory superior requirements.

EquiLend is partially owned by immoderate of Wall Street's biggest heavyweights, including Goldman Sachs, BlackRock, JPMorgan Chase and Bank of America Merrill Lynch.

BNY, on with 8 different large fiscal institutions that clasp strategical investments successful EquiLend, volition counsel it connected advancing innovation and improving ratio successful the industry, the fintech said.

"We are assured successful EquiLend's cardinal relation successful the marketplace and plans to further redefine securities concern with innovative marketplace infrastructure," said Nehal Udeshi, BNY's caput of securities finance.

The planetary securities concern manufacture generated $703 cardinal successful gross for lenders successful February, a study by DataLend, the marketplace information work of EquiLend, showed earlier this month.

EquiLend, which was formed successful 2001 by a consortium of planetary fiscal institutions and went unrecorded successful 2002, provides securities concern exertion and services.

It counts astir 200 firms arsenic clients, including plus owners, bureau lending banks, broker-dealers and hedge funds.

(Reporting by Manya Saini successful Bengaluru; Editing by Krishna CHandra Eluri)