Northern Trust has integrated EquiLend's Next Generation Trading (NGT) platform across its global securities lending network. 

The move is designed to enhance the Chicago-based banks’ single multi-currency system for managing the securities lending process.

EquiLend rolled out NGT last April and the platform now looks to be gaining widespread adoption.

More than thirty clients already use the system every day, trading an average $1.4bn over 24 hours, and sixty two firms are onboarding.

The technology allows traders to loan or borrow securities across multiple counterparties, rather than the traditional routes of email, phone, messaging platform.

Both general collateral and hard-to-borrow securities can be traded via NGT, which allows for real-time bid/offer negotiation and improved execution.

The platform is currently live in Northern Trust's 54 global fixed income and equity markets.

"Northern Trust consistently seeks ways to improve the service we provide to our clients," said Jeff Benner, global head of trading at Northern Trust.

"The integration of the NGT platform helps strengthen our global infrastructure, assuring clients that our trading professionals can focus on optimising the intrinsic value of their assets."

 Dow Veeranarong, global product owner, EquiLend, added: "Northern Trust has been committed to EquiLend's Next Generation Trading platform from the planning stages through to the global rollout of the platform."

"As firms such as Northern Trust migrate their securities finance trading activity to Next Generation Trading, they benefit from increased trade-level transparency and improved workflow automation while generating greater efficiencies for the market."