Trading and investing platform eToro has announced the launch of its stock lending programme in the UK, allowing users to generate income by lending their stocks.
Coming after the programme’s rollout in Europe and the UAE, the launch of stock lending in the UK comes as the latest step in the company’s strategy to grow access to such solutions to retail investors across the globe.
Extending stock lending across the UK
By collaborating with BNY, which serves as custodian and clearing provider, as well as stock lending platform EquiLend, which identifies borrowers and supports the lending process, eToro aims to deliver services usually dominated by large financial institutions to its UK retail investors.
With the launch of the stock lending programme, eligible users can make their portfolios work for them optimally and transparently and begin earning additional income. The UK rollout marks eToro’s expansion of its clearing and custody relationship with BNY, which delivers the infrastructure assisting the company’s fully funded stock and ETF offering across 19 global exchanges.
Talking about the strategic move, Yossi Brandes, VP Execution Services at eToro, mentioned that introducing stock lending in the UK represents a key milestone in the company’s commitment to making passive income opportunities available to all investors. In addition to being able to lend in the US, facilitating the capability to lend in global stocks enables eToro to maximise the potential for its clients to generate more revenue. He also emphasised that this launch sets the foundation for further growth in new markets.
Victor O’Laughlen, Executive Platform Owner, Global Clearing at BNY, added that by extending the relationship with eToro, the two organisations can offer an integrated solution including clearing, settlement, custody, foreign exchange, and cash management to UK investors. By merging the abilities of eToro and EquiLend with the scale of BNY’s Global Clearing platform, the move focuses on providing retail investors with an advanced solution that furthers their investing opportunities.
