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

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of