The Specific Lender trading permission enables securities lending transactions for loans versus non-cash collateral. The prerequisite is a collateral pledge model with a Triparty Collateral Agent. The restricted trading possibilities enables simplified admission requirements e.g. no requirements to pay a clearing fund contribution or margins. It cannot be combined with other Clearing Licenses (e.g. GC Pooling). However, an application as Specific Lender is possible in connection with a Select Invest trading permission.
The Specific Lender trading permission will provide buy side clients such as regulated financial service companies, insurance and reinsurance undertakings, pension funds or investment funds access to the SecLend Market. It supports the relationship between beneficial owners and agent lenders.
07:30 - 18:00 Frankfurt am Main time
Minimum trade size of one share respectively 1,000 nominal for bonds
Buy-side clients that are domiciled in the European Union, Switzerland and other selected countries can participate.
The following steps need to be taken: