Odaily Planet Daily News: Bank of New York Mellon (BNY) announced that it will become an early user of the lending platform EquiLend 1Source, marking its further investment in the securities lending field. In addition, BNY will also acquire a minority stake in EquiLend.
It is reported that EquiLend's 1Source platform uses distributed ledger technology (DLT) to improve the transparency and efficiency of securities lending. The launch of the platform is expected to change the traditional way of securities lending operations and provide users with more efficient trading and management tools. BNY's participation not only brings financial support to EquiLend, but also provides an important user base for its market promotion. As one of the initial users, BNY will be able to get priority experience in the early stage of the platform's launch and participate in the further development and optimization of the product. (Ledgerinsights)