Cantor Fitzgerald toughens up on prime services
20 February 2013 New York
Image: Shutterstock
Cantor Fitzgerald & Co said that its prime services division will add a new electronic "security locate" system with external connectivity to its existing prime brokerage platform. The system will enable hedge funds, proprietary trading firms and others the opportunity to borrow through the firm's new locate system.
Shawn Matthews, chief executive officer of Cantor Fitzgerald & Co., said: "We are constantly looking for ways to strengthen our market franchise and develop services that exceed client expectations. This new functionality is an example of our ability to add value for clients, and I am extremely pleased with the positive response we have received thus far."
Noel Kimmel , global head of Cantor Prime Services and CEO of Cantor Clearing, said: "Our current roster of clients already benefits from our securities lending activity, but now we will be able to expand our offering to a wider reach and scope of clients. Cantor Prime Services is consistently investing in technology and this build out is a testament to our promise of delivering a superior, custom-tailored client experience. We will continue to strengthen our platform and evolve to serve the growing pool of clients and their unique needs."
"The system gives traders, the opportunity to trade 'Hard to Borrow' securities when they cannot source them through their normal channels," said Allen Wolkow, head of securities lending at Cantor Prime Services.
"In addition, active credit lines with the majority of prime brokers and clearing firms enable us to physically make delivery of the located shares. The system can communicate with any electronic trading platform or it can be used by individuals on a trading desk."
Shawn Matthews, chief executive officer of Cantor Fitzgerald & Co., said: "We are constantly looking for ways to strengthen our market franchise and develop services that exceed client expectations. This new functionality is an example of our ability to add value for clients, and I am extremely pleased with the positive response we have received thus far."
Noel Kimmel , global head of Cantor Prime Services and CEO of Cantor Clearing, said: "Our current roster of clients already benefits from our securities lending activity, but now we will be able to expand our offering to a wider reach and scope of clients. Cantor Prime Services is consistently investing in technology and this build out is a testament to our promise of delivering a superior, custom-tailored client experience. We will continue to strengthen our platform and evolve to serve the growing pool of clients and their unique needs."
"The system gives traders, the opportunity to trade 'Hard to Borrow' securities when they cannot source them through their normal channels," said Allen Wolkow, head of securities lending at Cantor Prime Services.
"In addition, active credit lines with the majority of prime brokers and clearing firms enable us to physically make delivery of the located shares. The system can communicate with any electronic trading platform or it can be used by individuals on a trading desk."
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
