EquiLend, a technology provider for the securities lending, guarantees and swaps industries, has purchased a controlling stake in Stonewain Systems.
This agreement is based on a partnership between the two companies, in place since February 2019, which allows players in the securities financing market to manage their portfolios of activities on a single, integrated platform.
This brings together Stonewain’s Spire technology with EquiLend’s portfolio of trading, post-trade and market data solutions for the securities finance industry, including EquiLend’s NGT electronic trading platform.
The combination, EquiLend Spire, offers a modular and scalable securities financing solution for compliance, reporting, risk analysis, accounting, positions and trading.
Stonewain will remain an autonomous legal entity with independent management and will continue to support all existing relationships with clients and partners.
The two companies say their ongoing partnership aims to meet an unprecedented demand in the securities finance industry for automation, rapid modernization, service efficiency and cost reduction.
EquiLend Managing Director Brian Lamb said: “Our increased commitment to Stonewain is a strategically important development for EquiLend in a year that also represents a significant milestone for the company as we celebrate our 20th anniversary. in industry.
“We are proud of the opportunities [the partnership] featured on EquiLend Spire [and] look forward to what EquiLend and Stonewain can accomplish together as a closer team, ”adds Lamb.
Armeet Sandhu, CEO of Stonewain, said, “Stonewain has been dedicated to developing leading solutions in the securities financing market for over a decade, which aligns with EquiLend’s philosophy of innovation and earnings. efficiency for the market. Our partnership with EquiLend has demonstrated that market players are hungry for innovative solutions that address their technological challenges and that the combined power of our two organizations can help alleviate these headaches. “
EquiLend Global Sales and Customer Relationship Management Dan Dougherty says: “[the] the partnership with Stonewain was motivated by two key factors: the opportunity in the market to transform a very archaic and underserved corner of title finance into book and ledger solutions and the natural synergies between Stonewain’s system and the sequel EquiLend trading, post-trade and market data, clearing and regulatory services.