Maximize Securities Lending Revenue

Enigmatch Combinatorial Auctions

Engimatch’s combinatorial auction technology can help principal/agent lenders increase their securities lending revenue with better price discovery and improved inventory utilization. Our proprietary auction mechanism allows lenders and borrowers to compete for each others’ business - and can simultaneously optimize for lender preferences for collateral eligibility and concentration limits, and borrowers’ collateral availability and opportunity cost.

Minimize Risk with Dynamic Collateral Criteria

Lenders can dynamically tailor their collateral criteria at the level of each loaned security - minimizing market risk. For example, a lender can design a collateral schedule that correlates with the value of the loan, thereby minimizing the probability of margin calls and collateral movements.

Generate more Borrower Interest and Lending Revenue

Enigmatch’s combinatorial auction mechanism allows borrowers to specify their “Willingness to Pay” to borrow a security, the pool of collateral they have available to pledge, along with their internal opportunity cost for their collateral. Our auction mechanism automatically minimizes the opportunity cost of pledged collateral on behalf of the borrower, while making sure the lenders’ collateral criteria are met. By minimizing the collateral cost for borrowers, lenders can generate more bids, move more inventory and generate more revenue as a result.

Discover Multilateral Trading Opportunities

Enigmatch’s combinatorial auction engine can automatically discover collateral transformation opportunities - where a borrower doesnt meet the lender’s collateral requirements, and needs to transform available collateral with another lender beforehand.

Our engine also aggregates demand from multiple borrowers to achieve economies of scale for the lender, while meeting the required collateral criteria. Think UberPool for Stock Loan.