SecFinex was a UK based electronic
stock lending and borrowing platform
Platform may refer to:
Technology
* Computing platform, a framework on which applications may be run
* Platform game, a genre of video games
* Car platform, a set of components shared by several vehicle models
* Weapons platform, a system ...
that operated between 2000 and 2011.
It was closed down in December 2011 when its main owner NYSE Euronext said that despite it believing that central counterparty would play an important part in stock borrowing in the future the business had not gained enough tracking and they had decided to no longer financially support it.
The business was wound down and its authorization was removed from the
FSA register on January 6, 2012.
Overview
Originally known as PPA Capital Limited, the company changed its name to SecFinex, Ltd. in November, 2000.
As of March 2007, SecFinex, Ltd. operated as a subsidiary of
Euronext
Euronext N.V. (short for European New Exchange Technology) is a pan-European bourse that offers various trading and post-trade services.
Traded assets include regulated equities, exchange-traded funds (ETF), warrants and certificates, bonds, ...
and later operated as a subsidiary of LIFFE (Holdings) plc.
The trading platform covered equities on Dutch, French, German, Irish, Italian, Japanese, Spanish, Swedish, Swiss, the United Kingdom
and US
equity markets.
Transactions on SecFinex were cleared by the following CCPs:
*
LCH.Clearnet - for the transactions on Belgian, French, Dutch and Portuguese stocks
[
* SIS x-clear for stock loan transactions in Austria, Denmark, Finland, Germany, Norway, Sweden, Switzerland]Financial Services Authority
The Financial Services Authority (FSA) was a quasi-judicial body accountable for the regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investments Board (SIB) in 19 ...
(FSA)
Main competitors
* EquiLend
See also
* Securities lending
In finance, securities lending or stock lending refers to the lending of securities by one party to another.
The terms of the loan will be governed by a "Securities Lending Agreement", which requires that the borrower provides the lender with co ...
* Straight Through Processing
Straight-through processing (STP) is a method used by financial companies to speed up financial transactions by processing without manual intervention (straight-through).
It was developed for equities trading in the early 1990s in London for autom ...
(STP)
* Electronic trading
In finance, an electronic trading platform also known as an online trading platform, is a computer software program that can be used to place orders for financial products over a network with a financial intermediary. Various financial products ...
* NYSE Euronext
NYSE Euronext, Inc. was a transatlantic multinational financial services corporation that operated multiple securities exchanges, including the New York Stock Exchange, Euronext and NYSE Arca (formerly known as ArcaEx). NYSE merged with Archip ...
References
NYSE Euronext
Former electronic trading platforms
Companies disestablished in 2011
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