Securities lending explained

Lendable value

The lendable value of your portfolio is the proportion which can be lent under your securities lending agreement.

A varied portfolio will contain a broad range of different types of investments. Some of these investments would not be included in your lendable portfolio, simply because they are not defined as securities in a standard lending programme. These would include investments like closed-end funds or commodities. In addition, there are a number of securities which are not lendable. Securities may be non-lendable for a number of reasons including, but not limited to; a lack of liquidity, a lack of demand or the security not being listed. For example, not every type of bond is lendable. Examples of bonds which you would not be able to lend include:

  • Bankers Acceptance
  • Covered Bond
  • Certificate of Deposit
  • Cash Management Bill
  • Commercial Paper
  • Capital Securities
  • Certificate
  • Discount Notes
  • Permanent Interest-Bearing Shares
  • Reference Bills
  • Structured Product
  • Strip Packag

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    With securities lending, as with other investment activities, your capital may be at risk.

    Sharegain Ltd. is registered in England and Wales (no. 09600298) and is authorised and regulated by the Financial Conduct Authority (no. 730395).
    *This website is directed exclusively at and intended to be used only by professional investors and retail investors with direct holdings in stocks, bonds and ETFs in excess of £500,000. Our website is not directed at any person or institution where (by reason of nationality, residence or otherwise) the availability of our website or securities lending in general is prohibited. The material on this website is for general information and should not be considered as investment advice or solicitation to be involved in securities lending or to use one of Sharegain’s services. Securities lending involves risks and we have not and will not assess whether our service is appropriate for you. If you decide to lend your securities, your capital may be at risk. Please consult professional advisors if you are in any doubt as to whether the service would be beneficial for you or whether you require any consent or need to observe any formalities, before deciding to engage in securities lending.
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