NEW YORK, Sept. 28, 2009 (GLOBE NEWSWIRE) -- Quadriserv, Inc. today announced that 26 leading financial institutions have recently been approved as Members of the AQS securities lending platform. AQS is operated by Automated Equity Finance Markets, Inc., a wholly owned subsidiary of Quadriserv. AQS, through its relationship with The Options Clearing Corporation ("OCC"), has created a centralized marketplace for securities lending transactions in the U.S., and plans to expand into the European market through its relationship with Eurex Clearing.
New AQS Member firms include, among others:
-- BofA Merrill Lynch -- Calyon Securities (USA) Inc. -- Citigroup Global Markets, Inc. -- Interactive Brokers LLC -- ITG, Inc. -- Jefferies & Company, Inc. -- Mitsubishi UFJ Securities (USA), Inc. -- Newedge USA, LLC -- Pershing LLC -- Susquehanna Financial Group, LLLP -- Virtu Financial BD, LLC -- Wedbush Securities, Inc.
Gregory DePetris, Co-Founder of Quadriserv, said, "Demands for greater transparency and efficiency in the securities lending market have led to expanded interest in Quadriserv's AQS securities lending marketplace. This industry momentum, together with AQS' successful launch, enables us to shift our focus to welcoming additional agent lenders and hedge fund customers on to the platform. These firms will join the impressive roster of Members we have announced today in diversifying our customer base and adding liquidity to the platform. Building on this success, we are pleased with the institutional support we have attracted, and expect additional Members to join their ranks in the coming months.
"As the securities lending market continues to embrace a centralized trading model, we believe the quality of our proven technology, strategic industry alliances, and institutional support will serve to further enhance liquidity and broaden market participation."
Sylvan Chackman, co-head of Global Markets Financing & Futures at BofA Merrill Lynch, added, "We are very pleased to be a Member of Quadriserv's AQS marketplace, and believe it will be well-received by our clients. Specific AQS benefits, including additional securities lending options, capital efficiencies and transparency are emerging as key considerations in the marketplace, and we are confident that our clients will benefit from this important complement to our existing prime brokerage services."
About Quadriserv
Quadriserv is a leader in delivering transformational market structure changes to the securities lending industry. Quadriserv, through its wholly owned subsidiary, Automated Equity Finance Markets, Inc., has developed the AQS(R) platform for securities lending. AQS, through its relationship with The Options Clearing Corporation, has created a centralized marketplace for securities lending transactions in the U.S., and plans to expand into the European market through its relationship with Eurex Clearing. As a FINRA member broker-dealer and a SEC regulated alternative trading system, AQS aims to maximize liquidity, access, credit and transparency, while mitigating systemic risk, through a fully automated trading environment. For more information about Quadriserv, please visit www.quadriserv.com or www.tradeaqs.com.