EquiLend is to use Radianz's global financial extranet, RadianzNet, to provide financial institutions with secure network access to its electronic securities lending platform.
The EquiLend platform was developed by a consortium of 10 custodians and investment banks including Bear Stearns, JP Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley and State Street. The standards-based system allows securities borrowers and lenders to transact with each other through a secure hub.
Ben Glicher, chief technology officer, EquiLend, says: "RadianzNet already reaches many institutions that seek to use our service, which means they can utilise existing RadianzNet connectivity to access our platform.
"This reduces the cost of delivery, accelerates our time to market and reduces barriers for new participants."