Page 7 - ISLA_SL_Market_Report_H1_2024_-_Final

6 Securities Lending Market Report | H1 2024 7

Market Highlights

Global Trends Government Bond Markets

Global Securities Lending Market Global Securites On-Loan Utilisation Securities On-Loan
€35.5Tn €30Tn €2.9Tn €2.6Tn 32.7% 31.6% €1.4Tn €1.2Tn

Jun24 Dec23 Jun24 Dec23 Jun24 Dec23 Jun24 Dec23

Global All Securities YTD REV (S&P Global) Market Volatility (VIX)

€ €5.4Bn €6.4Bn 12.44 12.45 Collateral
Jun24 Jun23 Jun24 Dec23
Government Bond Collateral Held in European European Non-Cash Collateral Held in
S&P 500 Index Tri-Party by Domicile of Issuers European Tri-Party
5460 4770

Jun24 Dec23
Europe - 37% Equities - 45%
Asia - 26% Corporate Bonds - 13%
Global On-Loan Volume by Asset Type Global Lendable Revenue by Asset Type North America - 27% Government Bonds - 40%
Other - 10% Other - 3%

Lendable
Asset Class Lendable (€ tn) Revenue (€ bn) Revenue Basis
Points

All Securities 35.5 5.4 1.53

Equities 26.7 4.1 1.53

Equities - 44% Equity Markets Providers
Government Bonds - 45% Fixed Income 8.5 1.3 1.55
Corporate Bonds - 11%
Securities On-Loan
€1.2Tn €1.2Tn

Jun24 Dec24

Pension Plans - 22%
Global Government Government/Sovereign Entities - 29% Lendable Assets
Bonds On-Loan by Insurance Companies - 3% €26.7Tn €22.3Tn
Collective Investment Vehicle - 19%
Client Type Undisclosed/Other - 18% Jun24 Dec24

Banks/Broker Dealers - 9%