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.

More Industry 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
AAOI and Euronav top FIS hot stocks lists
18 October 2017 | London | Reporter: Jenna Lomax
The Belgium-based operator of crude oil tankers and storage facilities, has been a regular feature on the list in the last month
BlackRock sees lending revenue growth
17 October 2017 | London | Reporter: Drew Nicol
BlackRock saw its securities lending revenue hit $150 million in Q3, compared to $142 during the same period in 2016
Nex appoints new CEO
16 October 2017 | London | Reporter: Jenna Lomax
Ken Pigaga, who was previously global COO at the fintech company, will begin his new role this month, but will remain as a director on the NEX board
Is the sec lending industry experiencing evolution or revolution?
13 October 2017 | London | Reporter: Jenna Lomax
The securities lending industry is facing an evolution, as opposed to a revolution, attendees heard at the ISLA 8th Annual Post Trade Conference
Brexit: next three years ‘crucial’ for sec lending industry
13 October 2017 | London | Reporter: Jenna Lomax
Panellists at the ISLA 8th Annual Post Trade Conference discussed how the UK’s exit will affect the securities lending industry
The industry needs to ‘embrace’ fintech
13 October 2017 | London | Reporter: Jenna Lomax
The securities lending industry needs to embrace fintech, according to a panellist at ISLA 8th Annual Post Trade Conference
ISLA appoints Jonathan Lombardo as chair
11 October 2017 | London | Reporter: Jenna Lomax
As part of a wider board reshuffle BNY Mellon's Simon Tomlinson was re-elected as treasurer, while Krangel, Citibank, moved into the role of executive officer.