12 September 2017
Frankfurt
Reporter: Drew Nicol

Eurex secures PGGM as first buy-side Lending CCP direct member


Dutch cooperative pension fund PGGM is set to be the first buy-side client to become a direct participant of Eurex Clearing’s Securities Lending central counterparty (CCP).

Eurex Clearing’s Lending CCP covers loans in equities and exchange-traded funds in Europe as well as fixed-income securities, and has some of the largest providers of financial services to institutional investors and securities lending agents as strategic partners.

According to Eurex, the direct CCP access for beneficial owners via its Specific Lender License, preserves the relationship-driven business structure and at the same time delivers the capital efficiency and safety associated with central clearing.

Roelof van der Struik, investment manager for treasury trading and commodities at PGGM, said: “At PGGM, we believe by connecting to Eurex Clearing, using the full capabilities of EquiLend, the CCP model enables new stock lending structures and business opportunities for beneficial owners as well as helping to manage the rising burden of balance sheet regulation and costs for the securities lending market.”

As part of Deutsche Börse, Eurex Clearing provides an integrated clearing offering across derivatives, equities, securities lending and repo transactions.

Marcel Naas, global head of funding and financing at Deutsche Börse Group, said: “We are very pleased to welcome PGGM in our effort to further broaden the reach of our offering for the securities lending market to buy-side clients.”

“The usage by its members will further enhance the attractiveness of our Lending CCP and be mutually beneficial to our clients and other connected markets across asset classes.”

Brian Lamb, CEO of EquiLend, said: “We are pleased that PGGM has selected EquiLend to provide full connectivity services to Eurex Clearing’s Lending CCP and welcome them as a client.”

“The focus on CCP solutions continues to increase, driven by the need for cost and operational efficiencies. We anticipate greater utilisation of our link to Eurex as the securities finance industry looks to realise the benefits of a CCP model.”

More news
The latest news from Securities Lending Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Broadridge expands sec finance project team
25 September 2017 | London | Reporter: Drew Nicol
Broadridge has recruited Martin Walker as head of product management for securities finance and collateral management
US Volcker Rule not fit for purpose, says SIFMA
22 September 2017 | New York | Reporter: Drew Nicol
The US Volcker Rule is too broad, excessively complex, and uniquely prescriptive, according to the Securities Industry and Financial Markets Association
Pension fund mandate for BNP Paribas
22 September 2017 | London | Reporter: Drew Nicol
BNP Paribas has been appointed to provide global custody for £3 billion in pension fund assets for the West Sussex Pension Fund
Pirum joins South African securities lending association
21 September 2017 | Johannesburg | Reporter: Drew Nicol
Pirum Systems has joined the South African Securities Lending Association
AcadiaSoft expands user base for IM compliance
21 September 2017 | Massachusetts | Reporter: Drew Nicol
The second phase of the IM rules went live on 1 September under the regulatory framework of BCBS and IOSCO
FCA takes pragmatic approach to MiFID II deadline
20 September 2017 | London | Reporter: Drew Nicol
The UK’s financial conduct authority has indicated it will accept a soft roll out of the second Markets in Financial Instruments Directive in January
EquiLend and Trax partner for SFTR solution
20 September 2017 | London | Reporter: Drew Nicol
Trax and EquiLend are joining forces to tackle SFTR reporting requirement with a a full front-to-back solution for mutual clients