Securities lending revenues hit US$1.232bn in January
04 February 2026 Global
Image: nadzeya26/stock.adobe.com
Securities lending activity jumped 33 per cent year-on-year (YoY) in January, generating US$1.232 billion in revenues, says S&P Global Market Intelligence.
All asset classes performed well with many of the common themes seen during 2025, carried over into the new year.
American Depositary Receipts (ADRs) and ETF revenues remained robust, up 111 per cent and 36 per cent YoY to US$48 million and US$119 million, respectively.
Asian equities continued to experience strong demand with Hong Kong, South Korea, Australia, and Malaysia, all showing strong YoY growth.
EMEA equities however offered the biggest surprise over the month after producing revenues of US$95 million, up 68 per cent as average fees climbed 15 per cent to 47 basis points.
Across the EMEA region, France, Germany, UK, Sweden and Spain all produced the lions share of the returns.
Fixed income assets continued this trend with government bond balances showing growth of 21 per cent YoY, impacting revenues 鈥� which also grew to US$225 million, up 21 per cent.
Corporate bond revenues also climbed due the significant increase, up 19 per cent YoY in balances.
Matt Chessum, executive director, equity and analytic products at S&P Global Market Intelligence, says: 鈥淛anuary鈥檚 revenue strength was anticipated after the record鈥憇etting year of 2025.
鈥淢arket volatility and elevated geopolitical risk persist, but the key drivers of demand and returns that powered 2025 remain in play. With valuations still high and volatility offering ample profit opportunities, the first quarter of 2026 is off to an excellent start.鈥�
All asset classes performed well with many of the common themes seen during 2025, carried over into the new year.
American Depositary Receipts (ADRs) and ETF revenues remained robust, up 111 per cent and 36 per cent YoY to US$48 million and US$119 million, respectively.
Asian equities continued to experience strong demand with Hong Kong, South Korea, Australia, and Malaysia, all showing strong YoY growth.
EMEA equities however offered the biggest surprise over the month after producing revenues of US$95 million, up 68 per cent as average fees climbed 15 per cent to 47 basis points.
Across the EMEA region, France, Germany, UK, Sweden and Spain all produced the lions share of the returns.
Fixed income assets continued this trend with government bond balances showing growth of 21 per cent YoY, impacting revenues 鈥� which also grew to US$225 million, up 21 per cent.
Corporate bond revenues also climbed due the significant increase, up 19 per cent YoY in balances.
Matt Chessum, executive director, equity and analytic products at S&P Global Market Intelligence, says: 鈥淛anuary鈥檚 revenue strength was anticipated after the record鈥憇etting year of 2025.
鈥淢arket volatility and elevated geopolitical risk persist, but the key drivers of demand and returns that powered 2025 remain in play. With valuations still high and volatility offering ample profit opportunities, the first quarter of 2026 is off to an excellent start.鈥�
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