Fintech Wematch announced some milestone figures recently, hitting a record $150 billion in ongoing notional in early February with an average daily matched volume (ADMV) of $5.8 billion for the month of January on its securities financing platform. The firm’s also been beefing up its securities lending team with new hires. We speak with David Raccat, Wematch’s co-founder and global head of Securities Financing, and Stéphan Demoulin, head of Sales and Relationship Management for Securities Finance in EMEA, about the firm’s progress and product plans, including for advancing tokenized collateral.

Founded in 2017, Wematch describes itself as a firm that innovates the global dealing process by using technology for traditionally voice-traded markets and optimizing matching of interest on financing structures such as total return swaps (TRS), repos and securities lending, as well as equity derivatives and interest rates derivatives.

On February 9th, the securities financing platform reached $150 billion in ongoing notional, a metric representing all open trades managed in the platform. Factoring in average daily flows, at $5.8 billion in January, shows that some 4% of the book is turning over on existing balances, explained Raccat, which could be changes clients are making such as processing rebalancing, substitutions, unwinds or rolling trades over.

Full interview at Finadium.