Global revenue declines year-over-year due to lagging
equities performance in the U.S. and EMEA
NEW
YORK, July 2, 2024 /PRNewswire/ -- The global
securities finance industry generated $2.53
billion in revenue for lenders in the second quarter of
2024, according to DataLend, the market data service of
fintech EquiLend. The figure represents a 16% decrease from the
$3.00 billion generated in Q2
2023.
Global broker-to-broker activity, where broker-dealers lend and
borrow securities from each other, generated an additional
$696 million in revenue during Q2, a
9% decrease year-over-year.
Regionally, equity revenue fell 33% in EMEA and 19% in
North America compared to the same
period last year. A 22% decline in fees in North America and a 23% dip in EMEA accounted
for the majority of the decreased revenue. Equity revenue in APAC
increased 8% thanks to a 13% increase in fees.
Global fixed income performance declined by 11% in Q2
year-over-year. While revenue from government securities was
roughly flat, corporate debt revenue fell by 32%, a regression of a
trend which saw corporate bonds running hot through much of 2022
and 2023.
In June 2024, the global
securities finance industry generated $790
million in revenue for lenders. The figure represents a 11%
decrease year-over-year from the $888
million generated in June 2023. Broker-to-broker
activity totaled an additional $207
million in revenue in June, also an 11% decrease
year-over-year.
The top five earners in June 2024
were Lucid Group (LCID US), Trump Media & Technology Group (DJT
US), Canopy Growth Corporation NPV (CGC US & WEED CN), Beyond
Meat Inc. (BYND US) and ImmunityBio Inc. (IBRX US). In total, the
group generated $56 million in
revenue in the month.
Bloomberg Terminal users can subscribe to EquiLend's exclusive
Orbisa securities lending data by entering terminal shortcut APPS
ORBISA <GO> or clicking the following link:
https://blinks.bloomberg.com/screens/apps%20orbisa.
About DataLend
DataLend, the market data service within EquiLend's Data &
Analytics Solutions group, tracks daily market movements across
more than 200,000 securities, covering $35
trillion in lendable assets and $2.6
trillion in on-loan assets for the securities finance
market. www.datalend.com
About EquiLend
EquiLend is a global financial technology firm offering Trading,
Post-Trade, Data & Analytics, RegTech and Platform Solutions
for the securities finance industry. With offices in North America, EMEA and Asia-Pacific, EquiLend operates across various
jurisdictions worldwide, adhering to the highest regulatory
standards. The company is committed to excellence and innovation
and is consistently recognized for its contributions to the
industry. EquiLend is Great Place to Work Certified™ in
the U.S., UK, Ireland and
India and has been honored as the
Best Post-Trade Service Provider Globally, Best Market Data
Provider Globally and for its outstanding Diversity & Inclusion
initiatives in the Securities Finance Times Industry Excellence
Awards 2023. www.equilend.com
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SOURCE EquiLend