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6 Securities Lending Market Report | H2 2024 7

Market Highlights

Global Trends Government Bond Markets

Global Securities Lending Market Global Securites On-Loan Utilisation Securities On-Loan
€39.2Tn €35.5Tn €3.1Tn €2.9Tn 32.4% 32.7% €1.5Tn €1.4Tn

Dec24 Jun24 Dec24 Jun24 Dec24 Jun24 Dec24 Jun24

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

€ €11.3Bn €11.6Bn 17.55 12.44 Collateral
Dec24 Dec24 Dec24 Jun24
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
5882 5460

Dec24 Jun24
Europe - 39% Equities - 46%
Asia - 24% Corporate Bonds - 12%
Global On-Loan Volume by Asset Type Global Lendable Revenue by Asset Type North America - 26% Government Bonds - 39%

Other - 12% Other - 3%
Lendable
Asset Class Lendable (€ tn) Revenue (€ bn)
Revenue BP

All Securities 39.2 11.3 2.8

Equities 29.8 8.4 2.7

Equities - 43%
Fixed Income 9.1 2.9 3.2 Equity Markets Providers
Government Bonds - 45%
Corporate Bonds - 12%
Securities On-Loan
€1.2Tn €1.2Tn

Dec24 Jun24

Pension Plans - 21%
Global Government Government/Sovereign Entities - 29% Lendable Assets
Bonds On-Loan by Insurance Companies - 3% €29.8Tn €26.7Tn
Collective Investment Vehicle - 18%
Client Type Undisclosed/Other - 19% Dec24 Jun24

Banks/Broker Dealers - 10%