EquiLend has acquired Automated Equity Finance Markets, Inc, along with its securities lending technology systems from PDQ Enterprises, operator of PDQ ATS. AQS will be rebranded to EquiLend Clearing Services.
Brian Lamb, CEO of EquiLend, says: “Momentum has been building in the past two years in support of CCPs in the securities finance marketplace. Balance sheet costs, risk weighting and tougher capital-adequacy requirements have highlighted to the industry the potential benefits of using central clearing services. This acquisition combines EquiLend’s broad client base, market expertise and trusted technology with Automated Equity Finance Markets, Inc’s proven CCP-based securities lending market technology. By providing seamless access to OCC’s Market Loan Programme, the securities finance market now will have unprecedented access to central clearing services.”