Spire: Books & Records, and the Full Securities Finance Lifecycle in One Place
Spire brings trade capture, inventory, billing, and cash reinvestment into one platform. Agent lenders, broker-dealers, wealth managers, and retail brokers use it to run fully paid lending, principal borrowing, agency lending, and repo programs without a separate system for each workflow.
Securities finance books and records still run on disconnected systems
Fragmented operating environment
Securities finance operations teams often run trade capture, inventory, billing, and cash reinvestment across a mix of legacy applications, spreadsheets, and point systems that were never built to share data. Every added connection between those systems becomes another manual reconciliation step and another place for errors to enter the book.
The cost of disconnected systems
The cost shows up in billing disputes that take weeks to trace back to a single contract, cash balances invested a day late because the projection sat in a separate system, and compliance teams building manual controls around gaps the platform should close.
A unified operating platform
Firms replacing that stack, module by module or all at once, need a platform built to support fully paid lending, principal borrowing, agency lending, and repo processing without a separate rebuild for each workflow.
Why firms run their books on Spire
Real-time inventory visibility
Billing that traces back to the contract
Cash reinvestment that runs without a trader
Trading and automation connected to NGT
Automated locates with built-in regulatory controls
Complete trade lifecycle: re-rates, recalls, and returns
See Spire in action
Watch how one platform runs the full lending lifecycle.
How firms run their programs on Spire
Fully Paid Lending for retail brokers
A retail broker aggregates lendable securities across individual client accounts into one book, and Spire allocates loans across those accounts through a compliance-driven algorithm.
Real-time inventory for trading desks
Broker-dealers use Spire's real-time inventory to identify lendable positions faster, improving inventory utilization, and supporting funding decisions.
Earnings and billing at scale
A lender calculates accruals, splits revenue across clients and other parties, and distributes broker bills and monthly statements without leaving Spire.
Cash reinvestment for institutional lenders
A lender projects cash balances five days forward and automates buys and sells across money market funds and other reinvestment vehicles, with compliance checks built into every trade.
Managing recalls and re-rates across a book
When securities are needed back, Spire can initiate the recall automatically, tracks counterparty response in real-time and manages partial returns through to full resolution without manual follow-up. Rate changes triggered by market moves or counterparty negotiation are processed and reflected in billing without a separate re-booking step, keeping the book accurate and the billing team out of spreadsheets.
Settlement instruction and status
Spire generates settlement instructions automatically and delivers them to central depositories and tri-party agents, with real-time status updates feeding back into the platform as each trade settles. Fails surface immediately with the detail needed to resolve them, so operations teams spend their time resolving exceptions, not finding them.
Connected to the rest of the Equilend platform
Spire connects to Equilend's Trading, Post-Trade & Regulatory, and Data & Insights solutions, so a trade or position does not need to be re-entered as it moves from execution to books and records to reporting.
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Key features and product capabilities
Feature
Description
Fully Paid Lending (FPL)
Centralized inventory management, an allocation engine with compliance-driven algorithms, agent lender integration, and complete transaction processing from initiation to settlement.
Billing
End-to-end billing automation covering accruals, valuation, billing and invoicing, reconciliation, and statements, with multicurrency support, GL/sub-ledger integration, and performance attribution.
Cash reinvestment
Real-time cash balance projection with a 5-day forward view, automated sweeps and execution across overnight, term, repo, reverse-repo, and 14 other asset types, and pre- and post-trade compliance checks.
Trading & automation
Trade capture and execution with straight-through processing, loan allocation, recalls and returns automation, inventory and availability management including targeted availability lists, and collateral optimization, connected to NGT.
Reporting and global support
Over 300 standard reports and 24/7 global support across the platform.
Lifecycle management
Automated re-rate processing (initiation, negotiation, confirmation, and billing reflection), recall management (automated or manual initiation, partial and full return tracking, real-time counterparty status), and return management (borrower-initiated and recall-driven returns with automated processing and full audit trail). Single view of all open lifecycle events across the book.
Settlement connectivity
Connectivity to central depositories and tri-party agents for automated settlement instruction delivery and real-time status. Fail management with real-time visibility and exception detail built in. Integrates with the post-trade platforms and infrastructure operations teams already run.
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Frequently asked questions
What is Spire and who is it built for?
Spire is Equilend's securities finance platform for books & records, and the full lending lifecycle, covering trade capture, inventory, billing, and cash reinvestment in one place. Agent lenders, broker-dealers, wealth managers, and retail brokers use it to run fully paid lending, principal borrowing, agency lending, and repo programs.
What modules make up the Spire platform?
Spire runs on four core modules: Fully Paid Lending (FPL), Billing, Cash Reinvestment, and trading & automation. They share data, so a trade booked in one module shows up correctly in inventory, billing, and cash positions without manual re-entry. Firms can license a single module or the full platform and add more as the program grows.
Does Spire integrate with Equilend's other solutions?
Yes. Spire connects to Equilend's Trading, Post-Trade & Regulatory, and Data & Insights, and to Digital solutions, in addition to outside vendor technology.
How does Spire automate cash reinvestment?
Spire cash reinvestment projects cash balances five days forward and automates sweeps and execution across overnight, term, repo, reverse-repo, and 14 other asset types, with pre- and post-trade compliance checks built in. More than 90% of cash reinvestment trades run without a trader touching them.
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