South Street Securities launches equity finance business
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South Street Securities launches equity finance business 21 January 2021US Reporter: Drew Nicol
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South Street Securities (SSS) has launched its new equity finance business, led by industry veteran Anthony Venditti.
The US broker-dealer aims to leverage its capital base and balance sheet to become a niche player in the specials (hard-to-borrow) space and provide multiple solutions regarding the financing of securities and collateral.
SSS says the new business will offer a suite of services including 'daily colour', an easy-to-borrow list, short sale approvals, historical rate information, fails coverage, and put/run throughs, along with research and commentary.
At its launch, the equity finance business will offer products in global hard-to-borrows, exchange-traded funds (ETFs), general collateral, American depositary receipts and global depository receipt.
SSS has already confirmed a roadmap to future products including corporate bonds, options, equities and ETF futures, margin loans and special situation trading and facilitation.
In a statement on the launch, SSS says its equity finance team has “the perfect combination of skill, knowledge, technology and abundant relationships that could help service all of your short covering and financing needs”.
Venditti left his role as co-head global prime finance and delta one trading at BMO in July 2019, but has now returned to the securities financing market to leverage his more than 30 years of experience building out SSS’ new business.
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