Eurex Clearing and PGGM work together on CCP model for Securities Lending

Eurex Clearing  has announced that PGGM, the cooperative Dutch pension fund service
provider offering institutional clients asset management, pension fund
management, policy advice and management support, is the first buy-side
client to become a direct participant of Eurex Clearing’s Securities Lending
central counterparty (CCP).

The development and implementation of a centrally cleared securities
lending solution is part of Deutsche Börse Group’s strategy to incorporate new and
innovative offerings that assist members to increase capital and
operational efficiencies by maintaining and supporting the bilateral, relationship
driven characteristics of the securities lending market.

Roelof van der Struik, Investment Manager Treasury Trading & Commodities at  PGGM, said: “At PGGM, we believe by connecting to Eurex Clearing, using the full capabilities of EquiLend, the CCP model enables new stock lending structures and business opportunities for beneficial owners as well as helping to manage the rising burden of balance sheet regulation and costs for the
securities lending market.”

Brian Lamb, CEO of EquiLend, said: “We are pleased that PGGM has selected
EquiLend to provide full connectivity services to Eurex Clearing’s Lending
CCP and welcome them as a client. The focus on CCP solutions continues to
increase, driven by the need for cost and operational efficiencies. We anticipate
greater utilisation of our link to Eurex as the securities finance industry looks
to realise the benefits of a CCP model.”

Marcel Naas, Global Head of Funding & Financing at Deutsche Börse Group,
added: “We are very pleased to welcome PGGM in our effort to further broaden the
reach of our offering for the securities lending market to buy-side clients. The
usage by its members will further enhance the attractiveness of our Lending
CCP and be mutually beneficial to our clients and other connected markets
across asset-classes.”