From the Securities Lending Trading Desk

WPP Plc., the world’s largest advertising company, is still reeling from Founder and CEO Martin Sorrell’s abrupt resignation last month amid allegations of personal misconduct and misuse of company assets. A prominent activist hedge fund has gained more allies in its opposition to a restructuring plan at South Korea’s second largest conglomerate Hyundai. UK shares of bookmakers fall after new legislation to reduce the size of bets allowed on roulette and poker machines.

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From the Securities Lending Trading Desk

3D Systems Corp, a full-scale 3D printing and services operation, is up 33% in price since last week, continuing its volatile year and keeping the pressure on lending fees high. One of Singapore’s largest real estate investment trust firms raised S$303 million ($226 million) from a private placement of shares last week. In Europe, output woes and cost performance send Impala Platinum Holdings to new lows.

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3 Hot Topics From the Finadium Investors in Securities Lending Conference

BBH was well represented at the Finadium Investors in Securities Lending Conference held in New York on April 11-12, where our experts participated in several panels. The conference aimed to bring together key players from the securities finance industry to give investors insight into the evolving regulatory environment and share ideas to improve their use of securities finance in their core asset management activities.

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From the Securities Lending Trading Desk

In the U.S., Trading volume for MiMedx has spiked recently as investors placed bets on, or closed out of, shorts ahead of a shareholder meeting on Thursday and the completion of a Department of Justice audit. Japan-based Takeda Pharmaceutical Co. reached a preliminary agreement to buy Shire Plc for $64 billion. Whilst in Europe, two rights issues, Yapi Kredi Bankasi and Capita, are driving securities lending demand.

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From the Securities Lending Trading Desk

Underground mine passage angle shot

The desk has seen demand for the UK Miner Sirius Minerals (SXX LN) last week as the firm made an offer for USD 400 million of convertible bonds. After years of bearish sentiment, Tesla Inc. (TSLA) is once again the most shorted U.S. equity. Meanwhile in Asia, shares of Kingdee International continued to surge in Hong Kong trading as investors bet on the success of its cloud strategy. Continue reading

From the Securities Lending Trading Desk

After weeks of hype and anticipation, Spotify Technology SA sold shares via a direct listing. Directional demand has also started ticking up for Intrexon Corporation as the share price has rallied 50% from the start of the year. Japanese online retail broker Monex Group Inc.’s share price volatility spiked after it agreed to purchase cryptocurreny exchange Coincheck Inc, and Securities Lending demand increases for Telecom Italia as investors do battle for control in Europe.

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