Cantor Prime Services is adding a new electronic “security locate” system with external connectivity to its existing full-service, multi-asset prime brokerage platform.
Hedge funds, proprietary trading firms and others may borrow securities through the locate system.
“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, says Noel Kimmel, global head of Cantor Prime Services and CEO of Cantor Clearing.
Allen Wolkow , head of Securities Lending at Cantor Prime Services, explains that the system gives traders the opportunity to trade hard to borrow securities when they cannot source them through normal channels.
In addition, he adds, 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.”
(CG)