Wematch welcomes first lenders to platform
23 October 2017 London
Image: Shutterstock
Digital broker Wematch.SecuritiesFinancing has secured its first two lenders.
David Raccat, CEO of We.match, said: 鈥淵ou can have the best technology in the world but if you don鈥檛 have the liquidity you鈥檙e going to die鈥攊t鈥檚 critical.鈥�
鈥淢y objective is to get close to 10 lenders by the end of the year, and we are on track because we have several lenders currently in the onboarding stage at the moment.鈥�
Raccat added that We.match had seen promising traction from the borrowers since the first lender joined.
On the sell-side, We.match boast 19 borrowers, including several tier one banks, with $1.8 trillion worth of interest since the platform鈥檚 launch in February.
The digital broker completed its first securities lending trade on 18 September between Bank of America Merrill Lynch and ABN Amro, trading in French equities.
Wematch initially went live with a focus on total return swaps and European equities, before moving into securities lending and repo services went live on 18 September along with an expanded the list of available asset classes.
David Raccat, CEO of We.match, said: 鈥淵ou can have the best technology in the world but if you don鈥檛 have the liquidity you鈥檙e going to die鈥攊t鈥檚 critical.鈥�
鈥淢y objective is to get close to 10 lenders by the end of the year, and we are on track because we have several lenders currently in the onboarding stage at the moment.鈥�
Raccat added that We.match had seen promising traction from the borrowers since the first lender joined.
On the sell-side, We.match boast 19 borrowers, including several tier one banks, with $1.8 trillion worth of interest since the platform鈥檚 launch in February.
The digital broker completed its first securities lending trade on 18 September between Bank of America Merrill Lynch and ABN Amro, trading in French equities.
Wematch initially went live with a focus on total return swaps and European equities, before moving into securities lending and repo services went live on 18 September along with an expanded the list of available asset classes.
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