Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


08:50 AM
Connect Directly

Direct Edge Inks Agreement with Quadriserv for Securities Lending

Agreement calls for tighter integration between cash equity market for trading and related market for stock loan.

Stock market operator Direct Edge signed an agreement with Quadriserv Inc., whose subsidiary Automated Equity Finance Markets (AQS), provides centrally cleared securities lending services. In a memorandum of understanding, both companies agreed to develop tighter integration links between the cash market for the trading of securities and the related market for stock loan.

According to the joint release, such efforts will be the first to provide integrated cross-market solutions at the market center level for industry participants.

“With Direct Edge’s rapid growth and upcoming transition to exchange status, we have remained focused on maintaining the pioneering product development that has differentiated our company in the marketplace,” stated William O’ Brien, CEO of Direct Edge in today’s release. “As the market for securities lending evolves towards greater automation and standardization, it provides us with an opportunity to put our innovation engine to work to deliver next generation products and solutions to our customers,” said O’Brien in the release.

In a statement, Quadriserv’s CEO Thomas Perna said the partnership with Direct Edge represents another evolutionary step toward Quadriserv’s goal of dramatically improving the transparency and efficiency of the securities lending market.”

Through its relationship with The Options Clearing Corporation, Automated Equity Finance Markets has created a centrally cleared marketplace for securities lending transaction in the U.S.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

Register for Wall Street & Technology Newsletters
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.