Securities Lending Revenues Jump In Early 2026 As Markets Show Uneven Demand
Publishers tracking securities finance reported a notable increase in lending revenues for January 2026. According to market data, securities lending revenue climbed more than thirty percent compared to the same period last year, a sign that demand for on-loan assets and special placements is picking up after a period of relative quiet in parts of the market.
This uptick does not necessarily mean markets are calm. In our view, it reflects pockets of tightening supply in specific names and shifting risk appetites among institutional borrowers. When certain equities become hard to borrow, lenders can charge a premium and desks are forced to watch availability closely, especially in names where recall pressure and changing volatility patterns are in play.
For participants in the securities lending and stock loan space this trend matters because it changes how conversations about credit capacity and collateral behaviour unfold. Borrowers are asking tougher questions about term liquidity, recall terms and how price moves might affect borrowing costs in less liquid names.
What stands out is that the growth in revenues is not uniform. It is uneven across sectors, suggesting that lenders and borrowers alike are adapting to a more segmented market environment where certain pieces of supply are more sought after than others.
