Cecabank and Banco Santander complete 鈥榝irst鈥� agency securities lending trade
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Cecabank and Banco Santander complete 鈥榝irst鈥� agency securities lending trade 14 July 2025Spain Reporter: Carmella Haswell
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Cecabank and Banco Santander have executed the first securities lending transaction through a fully domestic agency model.
According to the firms, the move marks 鈥渁 milestone in the evolution of the Spanish securities lending market鈥�.
This achievement positions Cecabank as 鈥渢he first Spanish agent lender鈥�, the firm says, providing domestic institutions with a local, specialised alternative that is aligned with international best practices in collateral management and operational efficiency.
Enrique Verd煤, managing director of securities finance at Banco Santander, says: 鈥淭his transaction not only launches a new service but also opens the door to a structural transformation of the Spanish market.鈥�
The transaction, structured with fixed income collateral and conducted in a triparty format, strengthens both institutions鈥� readiness for regulatory challenges, aligning with international standards on efficiency, risk mitigation, and transparency.
Jos茅 Manuel Tassara, head of agency securities finance at Cecabank, adds: 鈥淭his is the first step toward a robust and sustainable model that prepares us for the new regulatory landscape and reinforces our commitment to innovation in post-trade services.鈥�
Cecabank says its new agency service enables institutional clients to access the securities lending market in a flexible and efficient manner, with structures tailored to meet current and future requirements of the European regulatory framework.
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