EquiLend has rolled out its Next Generation Trading (NGT) securities finance trading platform on Monday, April 27. Clients from around the world have already executed trades on the platform.
NGT is a consolidated, multi-asset class trading platform for the securities finance marketplace. Leveraging EquiLend’s existing trading venues and messaging capabilities, NGT increases trade-level transparency, improves workflow automation and generates efficiencies for the market.
EquiLend began building NGT in 2013 following demand from clients for a consolidated trading system that would enable increased executions, real-time bid/offer negotiation, more dynamic workflow and streamlined setup.
Brian Lamb, CEO of EquiLend, says: “NGT is the biggest initiative in the securities finance trading arena in years. We collaborated with clients on the ground across five continents to ensure the global securities finance industry would be prepared for a new trading dynamic focused on transparency and efficiency. With NGT, traders around the globe can, for the first time, conduct their entire trading workflow all on one screen, from indications of interest with counterparties through to trade execution.”
NGT captures and enables trade conversation between counterparties, whether machine-to-machine, person-to-person, machine-to-person or person-to-machine. Screens are customizable for traders across asset classes and regions, so the functions and nomenclature will be tailored to the user no matter where they are based or whether they trade equities, corporates or sovereign debt.
Dow Veeranarong, product owner for EquiLend, says: “EquiLend’s partnership with our clients to build NGT is driven by their desire for increased efficiencies and executions across a wider range of securities. NGT provides the technology for our clients to change the way they do business.”