LONDON, Monday 16 October 2023 – The International Securities Lending Association (ISLA), a leading industry trade association representing the common interests of securities lending and financing market participants across EMEA, is delighted to announce the launch of the Securities Lending Performance Measurement: Public Register.
In September 2020, ISLA issued industry guidance on Securities Lending Performance Measurement, to create an industry standard that would improve the quality and standardisation of data used for peer comparisons and ultimately provide greater transparency to market participants.
The guide defines the standards in respect of both data aggregation and calibration of performance-related metrics, focussing on data governance, securities lending contribution to an underlying portfolio, and relative performance of securities lending.
As of today, you will now be able to view a list of all ISLA member firms that have pledged to integrate the principles outlined in the industry guidance, via ISLA’s Securities Lending Performance Measurement: Public Register page.
“It’s encouraging to see so many firms get behind this initiative to promote greater transparency when it comes to returns generated from securities lending, in order for beneficial owners to effectively compare peers. Differences in the way that firms report data can often lead to distorted performance outcomes, and this guide creates a level playing field to ensure consistency across the market.” – Farrah Mahmood, Director – Regulatory Affairs, ISLA
“S&P Market Intelligence fully supports the ISLA Performance Measurement Standards which will bring a much greater degree of understanding and transparency. We have worked closely with our clients to develop enhanced features that help facilitate this objective” – Paul Wilson, Managing Director, ETF & Benchmark Solutions (EBS), Prime One and Securities Finance, S&P Global Market Intelligence
“We are pleased ISLA brought the industry together to develop their Securities Lending Performance Measurement Industry Guidance, with key input driven by the beneficial owner community. Data aggregation tools in the market allow us to better understand revenue and performance for our client programs. Creating consistent and reliable standards will further increase accuracy and reliability for peer comparisons that are integral to understanding performance. We welcome these changes and appreciate ISLA encouraging market participants to adhere to and adopt these guidelines,” – Brooke Gillman, Managing Director, Global Head of Client Relationship Management, eSecLending
“The Performance Measurement guidelines developed by ISLA aim to support increased transparency and data accuracy across the industry. Beneficial owners want their agents to comply with these industry standards in both their submission of data and the usage of data tools in order to improve the quality and accuracy of peer comparisons on securities lending revenue and performance. The Global Peer Financing Association of beneficial owner members has reviewed the ISLA performance measurement guidelines and seeks the active support of these standards by all market participants.” – Global Peer Financing Association
“We see this as a big step forward for the industry. Adoption and integration of these best practice guidelines across the market can benefit all stakeholders through greater data comparability and transparency, ultimately providing users with higher quality and more useful data.” – George Dennant, Vice President, Agency Securities Finance Product Manager, J.P. Morgan Chase Bank NA
If you’re an ISLA member firm and would be interested in making the pledge, or if you would like more information on applying the standards, please contact email@example.com.
To view the ISLA’s Securities Lending Performance Measurement: Public Register page click here.
To download the Securities Lending Performance Measurement Industry Guidance click here.
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The International Securities Lending Association (ISLA) is a leading industry association, representing the common interests of securities lending and financing market participants globally. Its diverse membership of over 190 members includes institutional investors, asset managers, custodial banks, prime brokers and service providers.
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