Exclusives are the bright spark amidst cowed volumes
28 January 2013 Boston
Image: Shutterstock
Client auctions in 2012 represented some of the highest revenue generating auctions in the firm鈥檚 history, announced eSecLending in a release.
The firm鈥檚 co-chief executive officer Chris Jaynes said: 鈥淲e are thrilled with the strong bids received for the 2013 dividend season. The breadth of borrower participation, demand for exclusives and overall outperformance against market benchmarks have all increased over the last year.
鈥淪pecific bright spots include US small-caps, Asia Pacific equities, high yield bonds and European yield enhancement. As a result, our clients have experienced material year-over-year increases in revenues.鈥�
Jon Ottomanelli, managing director and head of securities lending at Citi, a borrower in the auctions, said that committed supply through exclusives continues to be an important component of their overall strategy.
鈥淚n order to best service our hedge fund clients, it is very important for us to augment our supply with high quality assets. In this regard, eSecLending鈥檚 auction process helps us achieve our goals in a transparent and efficient manner.鈥�
The firm鈥檚 co-chief executive officer Chris Jaynes said: 鈥淲e are thrilled with the strong bids received for the 2013 dividend season. The breadth of borrower participation, demand for exclusives and overall outperformance against market benchmarks have all increased over the last year.
鈥淪pecific bright spots include US small-caps, Asia Pacific equities, high yield bonds and European yield enhancement. As a result, our clients have experienced material year-over-year increases in revenues.鈥�
Jon Ottomanelli, managing director and head of securities lending at Citi, a borrower in the auctions, said that committed supply through exclusives continues to be an important component of their overall strategy.
鈥淚n order to best service our hedge fund clients, it is very important for us to augment our supply with high quality assets. In this regard, eSecLending鈥檚 auction process helps us achieve our goals in a transparent and efficient manner.鈥�
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