06 June 2017
Toronto
Reporter: Drew Nicol

Canada bucks revenue trend in Q1


Canada's securities lending market bucked the trend of revenue dips in Q1 2017, DataLend's Chris Benedict has said.

Attendees of the Canadian Securities Lending Association Annual Conference in Toronto heard that Canadian revenue increased by $16 million in the opening quarter of the year, while revenue dropped by $145 million and $53 million for the US and Europe, respectively.

DataLend figures showed that Q1 revenue rose to $137 million this year, up from $121 million in the same period in 2016.

The Asia Pacific suffered a $47 million decrease in revenue, while the remaining lending markets saw a collective drop of $15 million, representing a global revenue dropout worth $244 million.

Benedict explained that Canada is primarily a general collateral market, although a small handful of super-hot Canadian stocks accounted for the vast majority of revenue.

In terms of collateral, Canada currently holds a 80/20 split in favour of non-cash collateral.

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