ConvergEx Launches Stock Loan Program

Aug 13 2010 | 9:50am ET

ConvergEx Group has unveiled its new stock loan program, which allows hedge funds and other clients to borrow securities for their short-sell requirements.

The program seeks out stocks for clients from approximately 30 stock loan counterparties without disclosing client names, thereby preserving client anonymity.

"In instances where a prime broker may not be the optimal source for clients to borrow stock, ConvergEx’s Stock Loan Program provides a comprehensive alternate solution," the firm wrote in a letter to its clients yesterday. "Leveraging our long-standing relationships with stock loan counterparties around the globe and continually building new ones to deepen the breadth of supply, we actively source hard-to-borrow securities that our clients seek."

The new stock loan program is available to all of the firm's clients, including clients of NorthPoint Trading Partners, ConvergEx’s recently acquired boutique prime services business. The service is in addition to the stock loan program that ConvergEx offers through its order management system, the Eze OMS.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.