EquiLend has informed its clients that services may be unavailable for several days due to a cyber-attack affecting the securities lending trading platform.
On January 22, the platform detected a “technical issue” that caused some of its systems to go offline. An investigation later revealed a cyber security incident involving unauthorized access to its systems. Immediate measures were taken to secure the infrastructure, and efforts are underway to restore the affected services as quickly as possible.
EquiLend is collaborating with external cybersecurity firms and professional advisors for a comprehensive investigation and restoration process, but clients have been warned that it could take several days to resolve the issues.
Founded in 2001 by a consortium of ten major Wall Street firms, EquiLend serves nearly 200 clients, including asset owners, agency lending banks, broker-dealers, and hedge funds. Recently, it was announced that private equity firm Welsh, Carson, Anderson & Stowe has reached a deal to acquire a majority stake in the company.