CRESTCo is pleased to announce that a new information service providing daily data on UK and Irish stock lending and borrowing activity was launched yesterday, Monday, 29 September. The initiative comes in response to the conclusion of the April 2003 review of short selling by the Financial Services Authority (FSA), and is designed to provide greater transparency in the securities lending market.
The new service covers each security in the FTSE 350 index, as well as Irish stocks with equivalent market capitalisation. The data will be provided via the CRESTCo website - and will comprise three distinct components:
- Daily stock loan data
- Monthly stock loan data
- Monthly settlement failure statistics
All data will be made available free of charge for a trial period of three weeks beginning on 29 September. From 20 October, daily stock lending data will be accessible to paying subscribers only, although the monthly summary data (for both stock lending and settlement fails) will continue to be made available free of charge.
In order to encourage the widest possible access, the fee for the new service has been set at GBP 840.00 per annum (or GBP 70.00 per month) for individual subscribers using the data within their own firms. So-called 'on distribution' licences, for use by firms wishing to repackage the data for onward sale, will be charged at GBP 17,625 per annum.
