Prime Broker Helps Hedge Funds Adapt To New Regs

Sep 30 2008 | 6:31pm ET

Prime brokerage firm Merlin Securities is trying to stay one step ahead of its peers by creating a platform that will allow its hedge fund clients to fulfill the new requirements for reporting on short positions.
"At the push of a button, Merlin's clients are now able to pull together all of the data required to complete SEC Form SH," said Aaron Vermut, senior partner and chief operating officer of Merlin.

"In a time of difficult market conditions, we felt that the last thing our clients needed was to learn a new reporting requirement, so we worked quickly to design a solution that would make the process as simple and straightforward as possible. This new reporting tool continues our commitment to providing our single- and multi-primed hedge fund clients with timely and effective technology."

Two weeks ago, the Securities and Exchange Commission barred outright short-selling in nearly 800 financial stocks. The regulator subsequently loosened some of those restrictions, and added a two-week delay in making public hedge funds’ short positions. Hedge funds and other money managers still have to report their positions to the regulator the first Monday following the trade.

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