Pirum, the tech partner for securities finance automation and collateral management, announced that Sharegain, a securities lending fintech, has gone live on Pirum TradeConnect.
Stuart Jarvis, Head of Strategic Partnerships at Sharegain, said:
“Pirum TradeConnect delivers the simplicity and efficiency the market has been waiting for, vastly improving connectivity and access for all participants. We’re excited to go live and create even greater value for our clients and partners.”
Ben Challice, President & Chief of Strategy at Pirum, said:
“We’re excited to have Sharegain live on Pirum TradeConnect. Sharegain brings new inventory from retail investors, providing the market with access to unique, hard-to-borrow liquidity.”
As noted in the update, Pirum was founded in 2000 with the objective of automating “the securities finance and collateral management industries.”
The Software as a Service (SaaS) platform has since “become the standard, globally, for automation and connectivity solutions.”
Today, the Pirum product suite, which covers pre- and post-trade flows as well as collateral management functionality, is “used by over 150 leading financial institutions around the world, covering both buy- and sell-side activities.”
Pirum delivers automation, operational efficiency and resilience, reduces cost, and facilitates regulatory compliance “for its network of clients, who use Pirum’s solutions to connect, communicate, and process their trades, as well as to manage and optimize their collateral in global financial markets.”
By connecting various industry participants, the Pirum dynamo sits at the heart of a “complex multi-party financial markets eco-system, all the while increasing transparency and resilience, streamlining operations and fostering collaboration.”
As mentioned in the announcement, Sharegain is a B2B global securities lending fintech.
Sharegain says that it has democratized the securities lending market through its solution, unlocking “potential revenue-generating opportunities that were previously the preserve of big financial institutions.”
Sharegain’s digital solution combines full “control and transparency with minimal overhead or up-front costs, enabling private banks, online brokers, wealth managers, asset managers and custodians to lend their stocks, bonds and ETFs, and generate additional revenue for their own business and their clients.”