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
