“Standard & Poor’s is the first major index provider to publish an index designed to track the average cost of borrowing U.S. equities at the intermediary level,” said Craig Feldman, director of index services at S&P. “The S&P Securities Lending Index Series will provide investors and securities lending participants with additional transparency on the aggregate rebate rates charged for domestic equities, while serving as a relative benchmark for the securities lending industry.”
S&P has also just published a whitepaper on securities lending, which can be downloaded from: