Euromoney’s first Agent Lender Survey sets out to see what’s behind the shroud of secrecy that appears to cloak the securities lending business – and finds a dozen market leaders willing to help
In the market for something special
Borrowing demand may have slumped over the past couple of years but lenders’ revenues were buoyed by wide spreads and opportunities to trade soughtafter ‘specials’
Widening horizons
Despite the attractions of emerging markets, agents are cautious about adding new countries to their lending programmes
Cash or not?
Securities lending may be a low-risk activity but collateral remains essential. In the present climate, most prefer cash
Beneficial owners have options
A brave new world of lending awaits beneficial owners, enabling them to put together a programme that exactly matches their needs
Just in case
Borrower defaults may be rare and the risk of loss for the investor small, but indemnifications are now virtually standard
An alternative approach
Work on active extensions has translated nicely into a new product offering for agents