NEW YORK, March 11 /PRNewswire/ --
EquiLend announced today that CIBC Mellon has selected EquiLend's post-trade offering in order to enhance service to securities borrowers globally. CIBC Mellon will begin by implementing EquiLend's Contract Comparison service for both Canadian and non-Canadian counterparts.
Choosing EquiLend reflects CIBC Mellon's ongoing commitment to strengthening automation across its business lines as it aims to mitigate operational risk and achieve greater processing efficiency.
"We are delighted to enhance our infrastructure with EquiLend," states James Slater, senior vice president and head of capital markets, CIBC Mellon. "EquiLend's best-in-class solutions not only facilitate greater connectivity with borrowers but also position CIBC Mellon to continue to deliver superior returns to Canadian securities lenders."
"We are very pleased to welcome CIBC Mellon to our client roster. This underscores our ongoing commitment to providing robust, relevant securities finance solutions to the Canadian marketplace," says Brian P. Lamb, CEO, EquiLend.
EquiLend is the leading provider of brokerage solutions for the securities finance industry. Owned by eleven preeminent financial firms, EquiLend revolutionizes straight-through processing by using a common standards-based protocol and infrastructure, which automates formerly manual business processes. Used by borrowers and lenders throughout the world, the EquiLend platform creates efficiency and provides access to additional liquidity. EquiLend's end-to-end solutions, which reduce the risk of potential errors and eliminate the need to maintain costly point-to-point connections, include Availability, AutoBorrow, Trade2O, EquiLend AuctionPort(SM), Contract Comparison, Mark-to-Market Comparison, Returns, Recalls, Billing Comparison and Delivery, Dividend Claims Comparison, and Agent Lender Disclosure (ALD). The EquiLend platform also supports the execution of payment and delivery instructions through the DTCC.
EquiLend LLC and EquiLend Europe Limited are subsidiaries of EquiLend Holdings LLC (collectively, "EquiLend"). EquiLend LLC is a member of the NASD and SIPC. EquiLend Europe Limited is authorized and regulated by the Financial Services Authority. All services offered by EquiLend are offered through EquiLend LLC and EquiLend Europe Limited. EquiLend and the EquiLend mark are protected in the United States and in countries throughout the world.
Web site: http://www.equilend.com
Michelle Lindenberger of EquiLend, +1-212-901-2224, firstname.lastname@example.org