EquiLend, a global leader in technology, data, and analytics for the securities finance industry, has secured a minority investment from an affiliate of The Bank of New York Mellon Corporation (BNY) (NYSE: BK). This investment reinforces BNY’s commitment to EquiLend’s cutting-edge technology and innovation-driven solutions.
With this strategic partnership, BNY joins eight other major financial institutions invested in EquiLend. Together, they will provide industry expertise to accelerate advancements in the securities finance ecosystem, fostering greater efficiency and modernization.
BNY to Support EquiLend’s 1Source Solution
BNY will also be among the first adopters of EquiLend’s 1Source solution—an industry-wide platform designed to create a single source of truth for securities finance transactions. Built in collaboration with leading financial institutions, 1Source leverages distributed ledger technology (DLT) and smart contracts to enhance transparency, minimize inefficiencies, and establish new operational standards.
By addressing critical challenges in securities finance, 1Source is set to become a foundational infrastructure for the market, improving automation and streamlining transactions.
Industry Leaders Support EquiLend’s Growth
Nehal Udeshi, Head of Securities Finance at BNY, expressed strong confidence in EquiLend’s role in shaping the future of the industry:
“This investment reflects our belief in EquiLend’s ability to solve the industry’s most pressing challenges through innovation. EquiLend continues to redefine securities finance, and we are excited to support its vision for a more efficient and transparent marketplace.”
EquiLend CEO Rich Grossi highlighted the significance of BNY’s involvement:
“BNY has been a valued partner since EquiLend’s early days over 20 years ago. Their investment reinforces our commitment to delivering next-generation solutions. This collaboration strengthens our ability to drive meaningful transformation across securities finance.”
As EquiLend continues to innovate and expand its offerings, this partnership with BNY will play a crucial role in shaping the future of securities finance with advanced technology and industry-leading solutions.
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