LONDON, May 23, 2011 /PRNewswire/ -- 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 costs."
About EquiLend
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.
About ZKB
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.
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