"eSecLending introduced its Internet auction platform one year ago for CalPERS, and in that short time, the service has redefined the securities lending marketplace," said Alan Matson, Chief Technology Officer at eSecLending. "We chose OneWorld Securities Finance to power our new securities lending offering because of its modern, open architecture and built-in flexibility. In addition, we value OM's strong relationship focus - they are committed to working closely with us as we continue to grow our business."
With OneWorld Securities Finance, eSecLending has expanded its service offerings to include daily operations administration for client programs. OneWorld Securities Finance provides full support for that effort through a modular design and comprehensive front-to-back office functionality that works for all participants in international securities finance - from the smallest direct lender through to the global custodian, broker or intermediary.
"OneWorld Securities Finance is the international securities lending system of choice for global financial institutions," said Alastair Chisholm, General Manger of Settlement & Securities Finance, OM. "As a major player with a proven track record in securities finance, we offer a flexible system with unsurpassed functionality, enabling market participants to gain competitive advantage and meet their securities lending goals today and in the future."
OneWorld Securities Finance consists of the Securities Lending and Repo modules. Each can operate independently or be used together for an integrated full-service system. The Securities Lending module has been installed in eSecLending's Burlington, Vermont, facility for use by offices in Boston and London. RBC Capital Markets of Canada went live with OneWorld Securities Finance in the fourth quarter of 2001, marking the North American launch of the system.
With executive headquarters in Boston, Massachusetts, eSecLending provides customized multiple-manager securities lending programs for large public funds, mutual fund families, corporate funds and other major institutional investors worldwide. The firm's unique approach and specialized industry expertise allow it to maximize returns and facilitate performance measurement for its clients. In addition to the Boston headquarters, eSecLending maintains offices in Burlington, Vermont, London and Tokyo.
eSecLending is majority-owned by Old Mutual plc (LSE:OMG), an international financial services company based in London, with expanding operations in asset management, life assurance, banking and general insurance. Additional information about eSecLending and about securities lending is available on the company's website, www.eseclending.com.
OM is the world's leading supplier of transaction technology to the financial services and energy industries, developing and marketing software that increases the efficiency of financial and commodity markets throughout the world. OM's OneWorld product suite offers unparalleled expertise in front office securities trading and processing, client order management, position keeping, clearing/settlement, international securities financing, and gateway connectivity. Together, OneWorld products provide unrivalled straight-through processing solutions for both the retail and institutional markets.
OM has over 100 customers in 20 countries worldwide. The Company also owns and operates exchanges and has operations in ten countries. OM is listed on Stockholmsbörsen. For more information, please visit www.om.com.
