New York – August 4, 2026 – The global securities lending industry set a new single-month revenue record in July, generating $1.93 billion, according to EquiLend Data & Insights. The total represents a 16% increase from July 2025, supported by strong equity demand in APAC, AI-related volatility, and continued growth across fixed income markets.

The lender-to-broker market generated $1.47 billion in July 2026, up 19% from the same month last year. Broker-to-broker activity, where broker-dealers lend and borrow securities from one another, accounted for an additional $461 million, up 9% year over year.

Global equities led the month’s performance, with lender revenue reaching $1.18 billion, up 17% year over year. AI remained a primary driver of equity volatility, with strong earnings from Microsoft and Amazon offsetting a significant sell-off during the second week of the month. Fixed income revenues rose to $283 million, up 25% year over year, as government and corporate debt balances increased 20% and 22%, respectively.

APAC reclaimed its position as the leading global equity lending region, with lender-to-broker revenue rising 13% from June and 98% from July 2025 to $528 million. APAC equity loan balances increased 51%, while fees rose by 31%. Pop Mart International (9992 HK) and Chinese AI company and 2026 IPO, Z.AI Co (2513 HK) ranked ahead of Space Exploration Technologies (SPCX US) among the month’s revenue leaders. Broader regional market volatility also supported securities lending activity, highlighted by a 21% decline in the KOSPI.

In North America, lender-to-broker equity revenue decreased 22% year over year to $501 million as fees declined sharply. Long awaited IPO, Space Exploration Technologies (SPCX US) was a leading focus in the U.S. equity market and generated $24 million in lending revenue ahead of its quarterly earnings and an approaching lockup expiration driving attention. Corporate bond lending revenue increased 17% to $47 million, led by continued demand for investment-grade bonds. Government bond lending revenue rose 33% year over year, while U.S. Treasury loan balances increased 20%.

Lender-to-broker revenue for EMEA equities rose to $142 million, up 48% year over year. Loan balances and fees increased by 18% and 33%, respectively, mainly due to seasonal demand and heightened activity in the energy sector. Corporate debt lending revenue increased 4%, as an 8% rise in loan balances offset a 2% decline in fees. Government debt lending revenue rose 29% year –over year to $60 million as European sovereign bond yields increased throughout the month.

Single-stock revenue leaders for July were Pop Mart International (9992 HK), Z.AI Co (2513 HK), Space Exploration Technologies (SPCX US), Quanta Computer (2382 TT), and Infosys LTD ADR (INFY US). Together, they generated $149 million, or 10% of all lender-to-broker revenue.