Global Securities Finance Snapshot – June, Q2 & H1 2026

Securities lending markets delivered a record first half of 2026, with revenues reaching $8.8 billion, up 33% year-over-year, driven by rising loan balances, stronger utilization, continued ETF growth, and exceptional demand for Asian equities linked to the global AI investment boom. June revenues increased to $1.74 billion (+20% YoY) while Q2 generated $5.0 billion (+34% YoY), marking the strongest H1 on record.

Global equity markets were shaped by the continued expansion of AI-related investment, record equity index highs in the US and Asia, growing anticipation around the proposed SpaceX IPO, and ongoing geopolitical tensions in the Middle East. While Americas equities experienced lower lending fees and softer revenue generation, Asian equities emerged as the standout asset class, benefiting from strong demand for semiconductor and technology stocks across Hong Kong, Taiwan, South Korea, and Japan. ETF lending revenues also surged as investors continued to allocate capital to passive investment products and AI-themed strategies.

Fixed income lending remained resilient throughout the period. Government bond revenues increased 40% in Q2 and 33% in H1, supported by higher balances, utilization, and demand across US Treasuries and European sovereign debt. Corporate bond revenues continued their steady expansion as issuers took advantage of stable financing conditions and investors sought yield opportunities despite an uncertain macroeconomic backdrop.

The report also explores the key market, regional, and asset-class trends driving securities finance performance, including the rise of Asian markets, record ETF activity, developments across government and corporate bonds, and the individual securities generating the highest lending revenues during the first half of 2026. Download the full report for detailed analysis, regional breakdowns, revenue rankings, and underlying market drivers