Streetwide demand and utilization remain high on Sirius XM Holdings Inc. as some investors track the stock spread between SIRI and Liberty Media. A prominent activist hedge fund has called for stronger corporate governance in one of Japan’s leading internet firms. Whilst in Europe, Dutch telecom provider Altice confirms plans to sell towers in France and Portugal. Continue reading
BBH was well represented at the 15th Annual Pan Asia Securities Lending Association (PASLA) conference, held in Hong Kong the week of March 5. Tom Poppey, BBH’s Global Head of Securities Lending Product Development and Client & Program Management served as co-chair of the conference. The theme of the event was “Embracing the Future” offering attendees unique perspectives on what to expect from both regulatory and economic influences on the securities lending market. Continue reading
The trading desk has received a number of queries over recent weeks asking if we have seen a material uptick in lending activity as a result of the increased volatility in the equity markets. The short answer – it’s too early to say. In this post, Robert Lees, Global Head of Securities Lending Trading, offers his perspective on the dynamics at play. Continue reading
M&A has been a key demand driver this week. In the UK, GVC Holdings received shareholder approval for the acquisition of Ladbrokes Coral with 99.97% of votes in favor of the deal. Elsewhere, the healthcare segment is in focus after Cigna agreed to buy Express Scripts Holding Co.(ESRX) in cash and stock and Singapore’s state-owned investment firm, Temasek Holding Pte, announced its plans to sell a $1 billion stake in Celltrion Inc and its affiliate Celltrion Healthcare Co.
U.S. online dating company, Match Group, Inc. is becoming increasingly attractive to shorts as the share price seems to have stalled after reaching a high last month. President Trump’s announcement that he intends to impose steep tariffs on imported aluminum and steel has sent shockwaves through Chinese-based producers. Bradford-based company Provident Financial announced a £300m rights issue in Europe.
Zubair Nizami, head of Asian securities lending trading at BBH, gives his views on regulatory challenges and potential opportunities in Asia ahead of the PASLA/RMA Conference in Hong Kong.
BBH is pleased to announce that Tom Poppey, Global Head of Securities Lending Product Development and Client & Program Management at BBH, will serve as co-chair of the 2018 PASLA/RMA conference which kicks-off next week in Hong Kong. Tom recently spoke with Securities Lending Times to share his views on the major trends influencing the Asian securities lending landscape and what to expect at this year’s conference. Continue reading
While the impacts of the Trump Administration’s recently announced solar tariffs are weighed, SunPower Corp. remains a focus of directional demand. Short interest in Yahoo Japan has steadily increased in recent weeks ahead of an impending strategic update by one of its largest shareholders. In Europe, the Dutch company, Koninklijke BAM Groep, gives rise to increase in securities lending demand.
Last week, shares tumbled in one of Australia’s top electronics retailers after reporting poor profit guidance for 2018. Dutch Auctions were in focus in the US last week as both Amgen Inc (AMGN) and Greenhill & Co., Inc (GHL) recently announced plans to repurchase shares. Fallout from Carillion has spread across UK companies and given rise to increased securities lending demand.