EquiLend and Broadridge have partnered to streamline straight-through processing (STP) to the National Securities Clearing Corporation’s (NSCC) central counterparty (CCP) for equity securities finance transactions.
The new offering will utilise EquiLend’s liquidity sourcing options and allow clients to trade and automatically submit via Broadridge’s SFT Submission Service without a substantial change in operational processes.
Market participants utilising EquiLend 1Source, the DLT-based single source of truth for securities finance transaction lifecycle information, will be able to direct securities lending trades to the NSCC for central clearing via Broadridge’s Trade Submitter Service.
Darren Crowther, head of securities finance services at Broadridge, said: “Interoperability across our platforms, as well as the entire trade lifecycle event workflow, will enable our clients to benefit from the advantages of the NSCC offering while minimising the time to market.”
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