Asia Pacific Securities Lending Market User Guide 2024
July 24, 2024
Executive Summary
PASLA and EquiLend are pleased to present the APAC Securities Lending Market User Guide 2024, marking the long-awaited return of this publication after the last edition in 2021.
The previous edition was released during the midst of the COVID-19 pandemic, which significantly impacted global markets. Today Asia Pacific securities finance markets are once again robust and we are looking forward with confidence as, around the region, more regulators and exchanges are taking steps to integrate securities finance into market structures with the aim of increasing participation in equity markets and boosting liquidity. There have been several encouraging developments recently, including the launch of short-sale infrastructure by the Philippine Stock Exchange and the soft launch of the Bilateral Securities Borrowing and Lending (SLB) Facility by Indonesia’s IDClear. At the recent PASLA/RMA Conference on Asian Securities Lending, which was attended by over 380 market participants from more than 28 countries, we heard first-hand from regional exchanges about their plans to continue liberalising securities finance activity.
However, there are still market-driven challenges and more progress to be made in promoting an open, transparent, and efficient securities finance market across the entire APAC region. With market access and fragmentation being one of the biggest challenges faced by market participants, our APAC Securities Lending Market User Guide provides a valuable resource for our members, helping them understand the latest developments and opportunities in each market and make better-informed decisions as a result.
PASLA has a pivotal role in supporting the development of market structures across Asia Pacific. As well as promoting market transparency with resources like this User Guide, we also proactively engage with our members and advocate on their behalf, including active engagement with a range of Korean authorities as they navigate the complex task of potentially lifting their self-imposed ban. We also recently co-hosted our first China Securities Borrowing & Lending Seminar in Shanghai, with over 50 market participants discussing best practices across the region. We look forward to planning similar thematic events in the near future.
We would like to express our sincere gratitude to all the Asia Pacific securities finance experts who have contributed to this User Guide. The information contained in this Guide was compiled from public sources as well as contributions from domestic and international market participants, exchanges, and independent consultants. We welcome any feedback and suggestions to make this Guide even more useful in future. Most of all, we look forward to our continued work with the Asia Pacific securities finance community and to updating this Guide consistently as the market evolves.
Stephen Howard, CEO, PASLA
