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Laxman Pai, Opalesque Asia:

Four major North American pension funds have come together launch the Global Peer Financing Association (GPFA) to advance peer-to-peer securities lending by asset owners.

The pension funds - the $396.9 billion California Public Employees' Retirement System, Sacramento, the C$94.1 billion ($72 billion) Healthcare of Ontario Pension Plan, Toronto, the $100.2 billion Ohio Public Employees Retirement System, Columbus, and the State of Wisconsin Investment Board in Madison, which manages $118.5 billion in assets, including the $107.9 billion Wisconsin Retirement System - joined with eSecLending, Osler, Hoskin & Harcourt and Credit Benchmark to create GPFA, to make peer-to-peer trading activity by asset owners easier and more efficient.

The shared goal of the GPFA is to create a more efficient and actionable way to increase and encourage peer-to-peer trading activity in the securities lending and repo markets for the benefit of asset owners.

According to a joint press release, the beneficial owners are increasingly turning to one another to engage in securities lending and repo transactions to supplement traditional banking counterparty trade opportunities. GPFA brings together beneficial owner-members with the goal of promoting the development of a more efficient, effective and cost-favorable marketplace for peer securities financing activities, liquidity management, and collateral management.

"Over time, we came together as a group ......................

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