Template:M summ Pledge GMSLA 5.2: Difference between revisions
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[[5.2 - Pledge GMSLA Provision|There]] are some securities lending settlement systems like Equilend, Pirum, Clearstream and Triana, which handle the busy job of matching and settling the tens of thousands of stock loan transactions that take place every day, saving the poor beleaguered operations staff on each side<ref>Who are we kidding? ''long since made redundant'' operations staff, more like.</ref> having to match and post collateral back and forth for new and outstanding loans. | |||
Each party will set itself up with an account and a “long box” containing collateral it makes available to collateralise its loans, and the settlement system effects all the movements using the ineffable algorithmic magic of AI. | |||
This wording really reflects that transfers made by these systems on the parties’ behalf count as discharging their obligations under the Loans — like, why wouldn’t they? — and that is about it. | |||
Latest revision as of 17:28, 8 January 2022
There are some securities lending settlement systems like Equilend, Pirum, Clearstream and Triana, which handle the busy job of matching and settling the tens of thousands of stock loan transactions that take place every day, saving the poor beleaguered operations staff on each side[1] having to match and post collateral back and forth for new and outstanding loans.
Each party will set itself up with an account and a “long box” containing collateral it makes available to collateralise its loans, and the settlement system effects all the movements using the ineffable algorithmic magic of AI.
This wording really reflects that transfers made by these systems on the parties’ behalf count as discharging their obligations under the Loans — like, why wouldn’t they? — and that is about it.
- ↑ Who are we kidding? long since made redundant operations staff, more like.