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Securities finance: pushing for market harmonisation

© JNT Visual

Donia Rouigueb, head of sales for securities finance and repo at CACEIS, participated in our recent securities finance roundtable. She reflects on whether asset owners are likely to move their sec lending activity in-house and on broader issues, including steps to standardise market practice.

Will asset owners internalise their securities lending programmes in the face of lower spreads and loan revenue ? Are you noticing a shift from ‘outsourced’ to ‘in house’ securities lending activity? 

As a custodian bank with a sizeable agency lending and principal lending programme, we see little sign that asset owner clients are wanting to take their securities lending activity in house. 

Many of the largest securities lending providers are aggressive with their profit splits and, for the most part, it makes little sense for our clients to internalise this activity, even if...