Convergex builds on sec lending offering
12 February 2016 New York
Image: Shutterstock
Convergex Prime Services has enhanced its securities lending offerings by adding fully-paid for lending capabilities to allow investors to potentially generate additional income.
By integrating with Convergex's Global Clearing, Convergex Prime Services can offer an improved securities lending service to its larger hedge fund clients and third-party institutional investors.
Convergex Prime Services has also confirmed a clearing agreement with INTL FCStone Financial that enables Convergex to offer its clients access to FCStone's futures execution capabilities and prime brokerage platform.
With FCStone, Convergex Prime Services claims to be able to offer its clients 24-hour trading access and full portfolio and risk reporting features traditionally only available to larger hedge fund managers.
"At Convergex, our securities lending professionals seek to ensure that every client receives the maximum value for their securities loaned," said Doug Nelson, Convergex executive managing director and head of global clearing and prime services.
"In addition to monitoring our client positions throughout the day, all loans are fully collateralized and marked to market.”
By integrating with Convergex's Global Clearing, Convergex Prime Services can offer an improved securities lending service to its larger hedge fund clients and third-party institutional investors.
Convergex Prime Services has also confirmed a clearing agreement with INTL FCStone Financial that enables Convergex to offer its clients access to FCStone's futures execution capabilities and prime brokerage platform.
With FCStone, Convergex Prime Services claims to be able to offer its clients 24-hour trading access and full portfolio and risk reporting features traditionally only available to larger hedge fund managers.
"At Convergex, our securities lending professionals seek to ensure that every client receives the maximum value for their securities loaned," said Doug Nelson, Convergex executive managing director and head of global clearing and prime services.
"In addition to monitoring our client positions throughout the day, all loans are fully collateralized and marked to market.”
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