Dealer-backed securities lending platform EquiLend has acquired the automated recall management system (Arms) it commissioned from New York systems integration firm TechSpan.
The system, designed by EquiLend in conjunction with TechSpan, is designed to enable financial institutions involved in securities lending to increase the speed and efficiency of loan recalls. In addition to integrating the Arms solution into the EquiLend platform, EquiLend plans to offer the software as a standalone service.
The product, which is compliant with the protocols established by the joint Risk Management Association (RMA)/Securities Industry Association (SIA) Arms sub-committee, will be available in the second quarter of 2003.