DataLend: Global securities lending revenue up 9% YoY for October
06 November 2024 US
Image: Taras_Vykhopen/stock.adobe.com
Global securities finance revenue for lenders increased 9 per cent year-on-year (YoY) for October, generating US$818 million, says DataLend.
The market data service of EquiLend also reports that global broker-to-broker activity 鈥� where broker-dealers lend and borrow securities from each other 鈥� was down 7 per cent YoY for the month, totalling an additional US$202 million in revenue.
In its monthly review, DataLend says equity revenue increased globally by 3 per cent due to a 6 per cent increase in global balances relative to 2023.
Equity revenue in EMEA grew by 2 per cent, as a 13 per cent increase in balances offset a 9 per cent decline in fees YoY. In APAC, equity revenue was 鈥渞oughly flat鈥�, according to the firm.
Global revenue generated by government bonds increased 39 per cent YoY, largely due to a 22 per cent increase in balances, DataLend says.
With the US presidential election on the horizon, lending revenue for US-issued sovereign debt jumped 59 per cent, as both fees and balances climbed relative to 2023.
Corporate debt lending saw moderate annual gains, with revenue increasing 2 per cent globally. Although fees for corporate bonds fell 20 per cent YoY, revenue still grew due to a 24 per cent jump in balances.
The top five earning securities in October were the US Treasury bond 4.125%, Tempus AI, Cassava Sciences, iShares iBoxx $ Inv Grade Corporate Bond ETF, and Spirit Airlines.
The five securities in total generated US$54 million in revenue for the month.
The market data service of EquiLend also reports that global broker-to-broker activity 鈥� where broker-dealers lend and borrow securities from each other 鈥� was down 7 per cent YoY for the month, totalling an additional US$202 million in revenue.
In its monthly review, DataLend says equity revenue increased globally by 3 per cent due to a 6 per cent increase in global balances relative to 2023.
Equity revenue in EMEA grew by 2 per cent, as a 13 per cent increase in balances offset a 9 per cent decline in fees YoY. In APAC, equity revenue was 鈥渞oughly flat鈥�, according to the firm.
Global revenue generated by government bonds increased 39 per cent YoY, largely due to a 22 per cent increase in balances, DataLend says.
With the US presidential election on the horizon, lending revenue for US-issued sovereign debt jumped 59 per cent, as both fees and balances climbed relative to 2023.
Corporate debt lending saw moderate annual gains, with revenue increasing 2 per cent globally. Although fees for corporate bonds fell 20 per cent YoY, revenue still grew due to a 24 per cent jump in balances.
The top five earning securities in October were the US Treasury bond 4.125%, Tempus AI, Cassava Sciences, iShares iBoxx $ Inv Grade Corporate Bond ETF, and Spirit Airlines.
The five securities in total generated US$54 million in revenue for the month.
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