<P> Securities financing is the ability to borrow or lend cash or securities against collateral . In securities financing, collateral comprises assets given as a guarantee by a borrower to secure a securities loan and subject to seizure in the event of default . Collateral management refers to the handling of all tasks related to the monitoring of collateral posted by a borrower to meet a financial obligation (optimisation, substitution, top - up, withdrawal, settlement instruction, reporting, processing of margin calls and returns, notification of corporate events, etc .). </P> <P> Clearstream's collateral management, securities lending and borrowing services are gathered under the Global Liquidity Hub . It provides a pool of liquidity through links to agent banks, trading platforms, clearing houses and other market infrastructures . </P> <P> Clearstream is a member of the Liquidity Alliance, which was established in January 2013 as a platform for CSDs to collaborate on collateral management . It was founded by ASX, Cetip, Clearstream, Iberclear and Strate . </P> <P> Clearstream has developed the world's largest cross-border fund processing platform, called Vestima . It handles all types of funds, from mutual funds to exchange - traded funds (ETFs) and hedge funds . </P>

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