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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...