According to reports, the enhanced integration allows borrowing and lending information between parties in EquiLend to be seamlessly transferred to 4sight’s books and records system.
The interface is also said to support autoborrow, contract compare, mark to market, billing compare and other key EquiLend functions.
Among the benefits the development offers to users is greater automation of the securities finance process and a reduction in cost per transaction due to speedier trading.
As quoted by Finextra, Alastair Chisholm, managing director of 4sight, commented, The development is in line with both 4sight’s and EquiLend’s shared aims of increasing efficiency for our clients by standardizing, centralizing, and automating front and back-office processes. The interface represents a considerable evolution in the functionality of two already powerful systems, and the ease with which the integration was carried out is testament to the inherent flexibility of both 4sight and EquiLend’s services.
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