Securities lending is an area of activity which has grown substantially in London in recent years as the London securities markets, and particularly trading in London in international securities, have expanded. The article below describes the development of gilt-edged stock lending and the role of the Stock Exchange money brokers since Big Bang, and presents some statistics (not previously published) on the scale of gilt-edged lending. It is followed by an extract from a recent speech by Ian Plenderleith, Associate Director of the Bank responsible for markets, reviewing some current issues in securities lending generally, including the work of the Stock Borrowing and Lending Committee which he chairs.
The gilt-edged stock lending market since Big Bang