Wednesday, 30 July 2014
Last updated 1 hour ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…