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EquiLend launches DataLend
20 June 2012
EquiLend has entered the market data business
EquiLend has created DataLend, a new market data provider for the securities finance market as part of plans to compete with the likes of Data Explorers and SunGard.
The service is expected to go live later this year and DataLend will wrap up its Beta testing phase soon.
Brian Lamb, CEO of EquiLend, said plans to move into the market data business have been on the cards for the past 11 years.
“From the very inception of EquiLend in 2001, market data services have always been part of the scope of what we wanted to build but it's just been a question of when. We've now demonstrated our proven track record in providing solutions to the securities finance market, which has built the foundation for the launch of DataLend."
There has been a lot of interest in the market data industry since regulators started to discuss introducing trade repositories in the securities lending industry. Although nothing has been decided yet, Lamb said that if trade repositories were introduced, then EquiLend would “certainly be at the front-centre of that solution”.
But EquiLend will be up against veteran data providers who have a monopoly on the market. Yet Lamb said he believes that EquiLend’s advantage over its competitors is having sets of data that they don’t have yet. He added that over time the firm aims to be the pre-eminent market data provider, and that competition is a “good thing” for both clients and the marketplace.