The loan of securities between brokers, often to cover a client's short sale; or a loan secured by marketable securities. Bloomberg Financial Dictionary
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Also securities lending / securities borrowing Euroclear Clearing and Settlement glossary
Securities finance mechanism that involves transferring full ownership of securities, with or without a guarantee, with a contractual agreement that the seller will repurchase the securities in return for the guarantee, if there is a guarantee, at an agreed price and date. The lending of securities in exchange for a fee. Securities lending is mostly facilitated by CSDs, but not offered directly. ( I)CSDs and banks, such as custodians that directly offer securities lending, possess a banking license and are regulated by existing banking law. Euroclear Clearing and Settlement glossary
Financial and business terms. 2012.