A news release said that the product will provide State Street’s securities lending customers with the ability to evaluate lending returns against a broad universe of industry peers.
Performance Explorer is a Web-based service that allows customers to compare individual results against the aggregated data of a broad, customizable universe of industry peers, according to the announcement.
Each week, Data Explorers collects aggregated data on more than 64,000 securities lending transactions for approximately 55,000 securities and more than 4,000 portfolios. Recent figures compiled by the service showed total lendable assets at almost $4.5 trillion and total on-loan balances at more than $1.3 trillion, according to the release.
“The securities finance industry is becoming larger, more global and more complex every year and lenders are calling for increasingly sophisticated tools with which to monitor, assess, and manage securities lending programs,” Edward O’Brien, executive vice president and head of securities finance for State Street, said in the announcement.