EquiLend Data & Analytics reports global securities lending revenue reached $1.58 billion in April 2026, up 43% year over year, as APAC led the global equity lending market.

The global securities lending industry continued setting records into Q2, generating $1.58 billion in April, according to EquiLend Data & Analytics, a 43% increase year over year. Heightened macro uncertainty surrounding the conflict in the Middle East drove loan balances to record highs, averaging $4.42 trillion for the month.

The lender-to-broker market generated $1.21 billion in April 2026, a 41% increase from the same month last year. Broker-to-broker activity, where broker-dealers lend and borrow securities from each other, accounted for an additional $372 million, up 49% from the same period last year.

Global equities led the month’s performance, with lender revenue reaching $943 million (+47% YoY), continuing the strong momentum seen last month and throughout 2025. Fixed income revenues rose to $262 million (+23% YoY).

Asia-Pacific (APAC) lender-to-broker equity revenue rose 79% year-over-year to $376 million, with Hong Kong, Taiwan, Korea, and Australia each posting lending revenue increases of more than 90% year over year. Elevated valuations and macro volatility tied to the global energy shock helped drive a 54% increase in loan balances, pushing APAC to the top spot in the global equity lending market.

In North America, lender-to-broker equity revenue increased 28% year over year, driven by a 40% rise in loan balances. Despite fees falling 10% compared to April 2025, lending revenue rose to $372 million. Corporate bond lending revenue increased 23% to $44 million, as a 24% increase in balances offset a 2% decline in fees. Government bond lending revenue rose 28% year over year, while U.S. Treasury loan balances increased 14%.

Lender-to-broker revenue for EMEA equities increased by 39% year-over-year, to $191 million. Loan balances increased 42%, while fees fell 4% over the same period. Corporate debt lending revenue increased 3%, as a 17% rise in loan balances offset a 12% decline in fees. Lending revenue from French OATs and UK Gilts contributed to a 21% year-over-year increase for the region.

Single-stock revenue leaders for April were Contemporary Amperex Technology H Shares (3750 HK), Infosys LTD ADR (INFY US), BillionToOne Inc (BLLN US), SGS SA (SGSN SE), and MiniMax Group (100 HK), which collectively generated $68 million, or 6% of lending revenue.

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