eSecLending Insights

Team eSec breaks down the latest market dynamics shaping securities lending, from Middle East geopolitical tensions to shifting rate expectations and funding conditions. The team discusses cash reinvest performance, secured versus unsecured funding trends, IPO activity, and what upcoming regulatory and policy changes could mean for the months ahead. Have a question? Submit it here: https://www.eseclending.com/insights/questions/ This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec shares takeaways from recent industry events, emphasizing how rapid AI and technology changes are reshaping automation while maintaining strong relationships remains essential. They review IPO and corporate‑action lending opportunities, focusing on the NASDAQ 100's rule changes (IPO "fast entry") and what these shifts could mean for the market. Have a question? Submit it here: https://www.eseclending.com/insights/questions/ This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec breaks down Q1 securities finance activity, from funding‑market volatility and shifting rate expectations to evolving collateral trends. The team also unpacks the SEC's long‑awaited 15c3‑3 relief, its implications for equity collateral, and what it means for lenders and borrowers. They close with insights on career development in the industry and a quick look ahead at IPO market dynamics. Have a question of your own? Submit it here: https://www.eseclending.com/insights/questions/ This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec dives into recent market activity shaped by geopolitical conflict, shifting rate expectations, and notable moves across treasury and equity markets. They share insights on widening spreads, funding dynamics, regulation updates, and takeaways from the ISLA Americas Boston Briefing, while also previewing the upcoming PASLA conference. Have a question of your own? Submit it here: https://www.eseclending.com/insights/questions/ This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec digs into their first-ever listener question, exploring the surge in vendor platforms and whether the industry is headed toward consolidation or broader innovation. The conversation spans market‑structure shifts, sector volatility, macroeconomic cross‑currents, and what these forces mean for securities lending demand. Have a question of your own? Submit it here: https://www.eseclending.com/insights/questions/ This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Matt Chessum from S&P Global Market Intelligence joins Team eSec to discuss the significant trends in securities lending data for 2025. They cover everything from market performance, top revenue-generating securities, insights into various regions and asset classes, and some facts that may be fun from 2025. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec closes out 2025 by discussing the challenges and successes the year, sharing insights on year-end market dynamics, and looking forward to the opportunities and trends for 2026. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Matt Brunette from Norges Bank Investment Management joins Team eSec to discuss securities lending strategies, digital asset integration, and optimizing balance sheet efficiency. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec returns to discuss the state of the repo markets, the implications of quantitative tightening, the Fed's role in funding market normalization, and year-end funding pressures. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec is back to discuss market trends and dynamics from meetings abroad and the ISLA Americas conference. They delve into tech innovations and beneficial owner participation and highlight the rise of automation, the importance of market diversification, and the increasing significance of conferences to build industry relations and share knowledge. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Pirum's Zoë Balkwell and Rob Frost join Team eSec to discuss Trade Connect, market connectivity, and the role of AI in transforming securities finance. Hear how industry partnerships and smart innovation are shaping the next generation of trading solutions. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec sits down with Glenn Havlicek and Bob Zekraus of GLMX for an insightful conversation on the evolution of securities financing. From startup struggles to market innovation, they explore how GLMX is reshaping repo and securities lending through technology, while looking ahead to ISLA Americas Conference. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec dives into the pressures of September quarter-end, the evolving dynamics in equity and credit markets, and what's driving lender strategies across client types. From IPO activity to funding trends and conference buzz, the team shares insights on what's shaping the season. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec returns to break down what's happening across the markets as summer winds down. From Fed rate expectations to deal flow, equity trends, and the impact of the Paramount-Skydance merger, they unpack what's shaping the season. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec welcomes back Matt Chessum from S&P Global Market Intelligence to break down the key trends that shaped the securities lending market in the first half of 2025. With revenues up across the board, standout performance in Asia, and surging demand for ETFs and ADRs, the group dives into what's fueling the momentum and what could be next. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec sits down with Ken DeGiglio, CIO, and Gary Klahr, Director, Strategic Initiatives and Product Manager for 1Source at EquiLend to explore 1Source, their new distributed ledger solution aiming to eliminate reconciliation in securities lending. For more information about 1Source, please visit here: https://equilend.com/services/equilend-1source/ This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Brooke and Jim mark the 100th episode with a look back at five years of podcasting, packed with stats, stories, and finance facts, all tied to the number 100. From market milestones to meme stocks and deep-dive lending trends, Team eSec celebrates longevity, learning, and a little bit of chaos. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Recorded live in Madrid at the ISLA Conference, Brooke Gillman sits down with Andy Dyson, CEO of ISLA, and Ben Challice, President of Pirum. Together, they reflect on transitions, the operational impact of T+1, and the evolving role of retail investors in the securities lending landscape. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec is back to unpack insights from the CASLA conference, spotlighting creative balance sheet solutions, evolving HQLA strategies, and the growing role of post-trade automation. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec is back with the latest market insights, exploring the uptick in IPO activity, fresh deals, and the rise in borrowers across emerging markets. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

The market has been tumultuous since Liberation Day and Team eSec is back to discuss what's been happening across the Treasury lending market, short-term cash, equity funding, and everything else. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

As North America approaches the first anniversary of implementing T+1, Roy Zimmerhansl from WTS Hansuke and Working Group Co-Lead of the UK and EU T+1 Initiatives joins Larry Albaugh, Andy Ramburn, and Brooke Gillman to discuss the upcoming transition to T+1 in the UK and EU, lessons learned from North America, and why it is crucial for firms to act now to prepare for October 2027. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Jim and Brooke are joined by eSec's own Sabine Kapferer to discuss their key takeaways from PASLA's 2025 Annual Conference on Securities Finance: South Korea is lifting the short sale ban in just a few weeks, Taiwan is a popular market, and P-notes access structures are in demand. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec is joined by Matt Cohen, CEO and Founder of Provable Markets, to discuss the outlook on CCPs, building a startup with end-to-end targeted solutions and partnering across the market for interoperability. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Live from IMN 2025, Team eSec chats with Matt Chessum of S&P Global Market Intelligence about key takeaways from day one of the conference, including geopolitical risk impact, emerging markets, potential increases in IPOs and M&A activity, and more. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Market activity is picking back up as we close out the first month of 2025, and the macro environment is moving at a rapid speed. Team eSec catches up on market insights gained from the past month as well as their recent borrower event in NY. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec is joined by Nancy Allen, Managing Director, Head of Data & Analytics Solutions, and Matt Ross, Associate Director at EquiLend, to discuss the data trends of 2024 and what's on the horizon for 2025. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

The "Chez Dawgs" reconvene as Matt Chessum from S&P Global Market Intelligence returns to recap 2024 with Team eSec and sparks a competition between Brooke and Jim with a year-end quiz, while spreading holiday cheer with some good ole-fashioned securities lending laughs. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Brooke and Jim are joined by Mark MacNeill and Mike Brooks to talk about the current state of the US equity and treasury markets, leading up to year-end. Team eSec is gearing up for 2025 and making their December predictions as we approach the next FOMC meeting and potential rate cut. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Brooke Gillman is joined by Justin Aldridge, ISLA Americas Board Member, and Fran Garritt, CEO of ISLA Americas, to learn about the formation of ISLA Americas, what's ahead for the Association, and how coordination across global regions will positively benefit the evolution of the securities lending markets. We also hear about upcoming industry events and how more of the market can get involved in this growing Association. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec gathers to discuss their recent travels, including meetings with borrowing counterparties in Asia and New York. They share insights on trending market topics, including the future forecasted lifting of South Korea's short sale ban, regulatory interpretations, developments in the Taiwan market and solutions for balance sheets and RWA. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec and Matt Chessum from S&P Global Market Intelligence reunite to recap the Q3 market performance across all global asset classes and coin themselves the "Chez Dawgs" after much adoration and shared interest over a television series. Lendable is up across the board, government bond revenues have increased, and there's a lot of activity in Asia. All eyes are on Q4 as geopolitical turmoil continues and the US election approaches. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

As the industry prepares for the first ISLA Americas Securities Finance Conference, Team eSec is joined by Bob Zekraus of GLMX to discuss what they're looking forward to hearing about at the conference, including tech and resiliency, trading and execution platforms, liquidity and automation, and AI. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

As the busy summer comes to an end, Team eSec catches up on the latest market updates, launching into new auction cycles, impending rate cuts, Basel III regulatory updates and important rebranding efforts. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec is busier than ever, so Mark Wilson joined Brooke and Jim to discuss summer auctions, increasing loan settlement speed in Asian markets and of course the recent market volatility. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Matt Chessum from S&P Global Market Intelligence is back to give Team eSec a recap of H1 2024 and a pep talk going into H2. Asian equities and ETFs were the shining stars of H1, and the geopolitical landscape is sure to spark market volatility. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Brooke and Jim are joined by Mark MacNeill to gain insight into Visa's unique market position, macro market updates, and a heartbreaking tale of Jim leaving money on the table. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Brooke Gillman hosts guests Andy Dyson, CEO of ISLA and Phil Morgan, CEO of Pirum, as they debrief mid-conference about the most pressing industry topics. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Matt Chessum from S&P Global Market Intelligence returns to recap what's top of mind in the industry, such as balance sheet constraints, changes in the value chain structure, the shift to synthetic, Roaring Kitty's resurrection and reveals his current favorite market. We love you too, Canada! This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec reconvenes after weeks of travel, meetings, and conferences to discuss pending regulatory updates and market implications, as well as trade structure solutions for increasing regulatory capital costs. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec catches up on auction activity, funding trades, IPO issuance, M&A activity, and a broad short-base driving market demand all while reflecting on the rare and transfixing experience of being in the path of totality. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec returns from Singapore to recap some of the main themes from the PASLA conference. Find out which markets are driving the greatest securities lending demand today and what else the region is focused on. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Team eSec catches up with Phil Morgan, CEO of Pirum, as both companies turn 24 this year. They discuss the many pain points the industry is facing and how Pirum is creating solutions for operational efficiency. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Join Team eSec to hear about the recent pick up of deal activity, sector plays, and how the UST and short-term cash markets are reading on the barometer. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Fresh from Nashville, Team eSec reviews key industry takeaways while keeping the compliments flowing. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Do you miss 2023? Do you want to revisit the highs and lows? Join Team eSec and our regular guest Matt Chessum from S&P Global Market Intelligence as they scoot back through 2023 and look forward to all that is to come in 2024. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Join Team eSec as they walk through the end of 2023 and focus on the steps to make 2024 the best yet. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Join Team eSec, and 8 of our top listeners, as they get festive and wrap it up before the end of 2023. From where are you listening? This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Regulatory reporting is increasing in the U.S. market, and team eSecLending brings back friends from Pirum, Bob Zekraus and Tom Veneziano, to address questions regarding Rule 10c-1 and to discuss how the industry will prepare for implementation and pivot into a state of readiness. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.

Matt Chessum from S&P Global Market Intelligence joins Team eSec again to review Q3 2023 results. Find out what remains after the year's mega specials wound down and what may be driving demand and balance shifts today. This material is for your private information and does not constitute legal, tax or investment advice. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.