Íø±¬³Ô¹Ï

Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
Íø±¬³Ô¹Ï
Leading the Way

Global Íø±¬³Ô¹Ï Finance News and Commentary
≔ Menu
Íø±¬³Ô¹Ï
Leading the Way

Global Íø±¬³Ô¹Ï Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Buy side news
  3. Orange County seeks sec lending provider
Buy side news

Orange County seeks sec lending provider


25 May 2016 California
Reporter: Drew Nicol

Generic business image for news article
Image: Shutterstock
The Orange County Employees Retirement System (OCERS) is assessing bids from global custodians to take over the management of its securities lending programme.

The deadline for custodians to register their interest was 20 May.

As well as securities lending, prospective custodians will be expected to provide a number of services, including accounting, securities settlement, cash management, directed brokerage services, corporate actions, class actions and proxy processing.

The OCERS’s request-for-proposals came as part of its contractual requirement to ensure it has the most cost-effective overseer for the custody of its assets by opening itself to re-bids every five years.

In its RFP, OCERS said: “We are not obligated to retain the incumbent nor motivated to change for the sake of change.â€

State Street, OCERS’s current provider of custody services, will be aiming to renew its contract with the state.
Next buy side article →

AIA Group appoints BNP Paribas for OTC
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Íø±¬³Ô¹Ï Finance Times
Advertisement
Subscribe today
Knowledge base

Companies in this article
→ State Street

Explore our extensive directory to find all the essential contacts you need

Visit our directory →
Glossary terms in this article
→ Proxy

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →