Knight Clearing Services selects SunGard’s Loanet system for new securities lending arm

Knight Clearing Services has chosen to use SunGard’s Loanet securities finance solution to run its front-office, settlement, clearing, accounting and regulatory operations in its new securities lending business.

Loanet Smart Loan will allow Knight to control stock position and manage locates, with a view to introducing large levels of automation into the business.

Christopher Pento, managing director and head of Knight Clearing Services, commented: “We believe Loanet is a solid, proven platform for the securities financing business, and one that allows us to establish a self-clearing model with an industry standard solution. SunGard’s Loanet provides us with a tightly integrated, fully automated solution that helps manage our needs for securities lending.”