State Street has expanded its peer-to-peer securities finance product, Direct Access Lending, which enables direct, principal loans between its lending and borrowing clients. It now enables borrowers to post U.S. convertible bonds as collateral to facilitate the participation of new clients and strategies. The same operational support provided for equity-for-equity loans in Direct Access Lending will be offered to clients engaged in equity-for-convertible bond loans to allow an increased economic opportunity without a corresponding increase in operational risk or burden.
