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The Story Behind This Month's Cover Story

Clearing Quarterly and Directory, March 19, 2008

Gregory Bresiger Editor-in-Chief

It's human nature for most people not to like change. But change, especially technological change, is often essential. That's what many people believe about the world of securities lending, where electronic trading has become a necessity. Yet in writing this month's cover story on securities lending and potential new securities lending models, CQ&D came across an unusually large number of 'no comments.' 'Well, my bosses asked me not to talk to you,' said the head of securities lending for a major broker-dealer. This executive had previously told me, in another article, that he would be interested in a plan to establish some sort of securities lending exchange and might use it.

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