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Securities Lending Market Report | H1 2024

ISLA Publishes

2024-2029 Manifesto
>>> Europe

Fig 8 - S&P Global ISLA is pleased to announce the publication of the Association’s 2024-2029
manifesto; How to Boost Europe’s Capital Markets by Empowering Securities
European Equity Market Lending & Borrowing.

3.70 0.25
Lendable Value (Trillions €) 3.50 0.15 On-Loan Value (Trillions €) Scan to read the full report.
3.60
0.20
3.40
3.30
0.10
3.20
0.05
3.10
3.00
Jan 24 Feb 24 Mar 24 Apr 24 May 24 Jun 24 0.00
Group Lendable On-Loan Balance

In Europe, the picture was less clear, with several factors To summarise European Equities in H1 2024:
depressing activity and performance. A lack of any meaningful • European lendable appears to track underlying equity market
deal opportunities in Europe combined with the general malaise performance especially into the half year.
around capital market activity across the continent saw a fall in
both on-loan balances and revenues in the first half of 2024. • Seasonality in and around the spring months is much more
Europe failed to register a single security in the top ten of muted than in previous years.
revenue generating equities in the first half of 2024.
• European on-loan less than 30% of levels seen in US
Although we did see some seasonality in markets in the data it is markets.
clear that markets such as such as France, Germany and Sweden
saw less of this activity in 2024.