Blog
Securities Lending - Response to New York Times Article (Part Two)
Posted 26 October 2010 - 6:28am by Roy Zimmerhansl
Yesterday I wrote part one of my response to the issues raised in the New York Times securities lending article last week.
Fear and optimism in Amsterdam
Posted 25 October 2010 - 4:27pm by Craig McGlashan
- Customer service to become prominent in developed markets
- Regulators must work together and avoid fragmentation
- Regaining trust to be key
With Lehman Brothers’ collapse during Sibos 2008 and a typhoon hitting the event in Hong Kong a year later, delegates at Sibos 2010 in Amsterdam may well have been concerned about the old adage that trouble comes in threes.
Securities Lending - Response to New York Times Article (Part One)
Posted 25 October 2010 - 9:31am by Roy Zimmerhansl
The story in the New York Times last week has generated a flurry of chat across the media, so I thought I would add my two pennies worth. I am going to do it over the course of several blog this week. This is the first one in a series.
Poll - Did Consultants Drive Increased Cash Reinvestment Risk?
Posted 23 October 2010 - 10:40pm by Roy Zimmerhansl
Consultants are typically essential to the agent lender selection process and ideally are a trusted partner to Beneficial Owners. Yet some have accused consultants of forcing lenders to up their revenues or revenue projections. Did the competitive pressure translate to more risk being implemented in agent lending programs? Did they counsel their clients on the risk profiles of the reinvestment profiles? Or perhaps that was outside their remit or their level of expertise?
ETF Securities Lending Event in London
Posted 22 October 2010 - 8:30am by Roy Zimmerhansl
I want to make certain that everyone is aware of the upcoming ETF Lending Event next week in London at the Andaz Hotel. This is the third annual event that is put together and sponsored by iShares. At the 2010 version there will be presentations from State Street, Morgan Stanley and Data Explorers.
Securities Lending Connections
Posted 15 October 2010 - 12:26pm by Roy Zimmerhansl
It's Friday, so I have just finished my newsletter "Roy's Random Rap" for subscribers. That reminded me that it's been a while since I let my blog readers know about the two Securities Lending groups that I run - one on LinkedIn, the other on XING. The "Rap" is only available to members of those groups that have signed up for it.
It's not What you know, it's Who you know that counts!
Data Explorers HK Securities Finance Event - My Comments on Votes
Posted 10 October 2010 - 2:20pm by Roy Zimmerhansl
Last week Data Explorers hosted its first Asia Securities Financing Forum. During the event there were a number of audience votes on various questions. Getting audience participation through voting is becoming more commonplace now and is a great way to get people involved. However, these are not scientific in any way and by definition, attendees will have an undisclosed but often sympathetic bias. So while you wouldn't want to bet the farm on the voting results
IMN Securities Lending Conference
Posted 19 September 2010 - 1:32pm by Roy Zimmerhansl
Monday and Tuesday of this week sees London hosting the 15th Annual IMN European Beneficial Owners' Conference on Securities Lending. I'm moderating the closing panel session on Tuesday, focusing on the Central Counterparty white paper that Andrew Howieson and I have recently released. You can register to receive a free copy of the white paper by completing the form below.
Central Counterparty for Securities Lending White Paper is Released!
Posted 14 September 2010 - 10:46am by Roy Zimmerhansl
Andrew Howieson and I have just released our white paper entitled "Good, Bad or Inevitable?". We first spoke about the possibility of doing such a paper almost exactly one year ago. I had just finished moderating a conference panel on the subect of CCPs for securities lending and we were bemoaning the general lack of understanding about the topic and even worse, the disinformation that was being spread in some corners. So we decided to do something about it when our schedules permitted. Today's release marks the culmination of that effort.
Collateral and Rehypothecation
Posted 3 September 2010 - 8:00am by Roy Zimmerhansl
At a conference in London Last November I dubbed 2010 as “The Year of Collateral”. From a business point of view everyone was placing more emphasis on risk reduction through more stringent collateral management procedures. Further, and more importantly, regulators were making it pretty clear that collateral is king. This year we have seen a lot of material on the subject.