Equilend : Developing a global
technology platform for automation and negotiation
of securities financing transactions
Client
EquiLend : Global
securities lending consortium of the world’s
leading financial institutions.
Challenge
Lack of efficient,
standards-based processes in equity securities
lending
No common protocols to
conduct online transactions
Manually intensive front
and back office activities
Significant amount of failed
trades in the settlement process
Need to gain consensus
among ten of the world’s leading financial
institutions to create industry wide global
platform
Solution
Wipro managed and executed the planning, design
and implementation of EquiLend’s system
-- a global technology platform for the automation
and negotiation of securities financing transactions
between securities lenders and borrowers.
Benefits
After just
two weeks of its June 25, 2002 launch, EquiLend:
Facilitated
3,600 transactions representing securities
valued at $2.2 billion
Exceeded $11 billion
in transactions facilitated
Daily postings of
securities available to borrow exceed
$1 trillion
Increased efficiency in
the securities lending and finance industry
Developed common protocols
for conducting transactions over the platform
Streamlined manually intensive
front and back-office activities
Reduced time and risks
involved in the transactions
