Financial software company Linedata is launching a tool that will help clients meet the Hong Kong Securities and Futures Commissions (SFC) requirements for reporting short positions.
The reporting tool is part of Linedata Beauchamp, the companys portfolio management software.
Reports produced by the software will detail whether a stock is on the short-selling list and needs to be reported, whether the position is equivalent to 30 million Hong Kong dollars, or whether it is equivalent to 0.02% of share capital. A more detailed report showing the data behind every criterion is also available.
The robust, centralized database in Linedata Beauchamp means that all the data needed to meet this new reporting requirement is there and we have created these two reports to streamline the process, saving our clients time and effort, says Sally Crane, Linedatas managing director for Asia Pacific. Although were a global company, with the leverage and reach youd expect, we also aim to supply great local service and support our clients here on the ground in Asia.
The short position disclosure rules will come into effect on Monday, June 18, according to SFCs Web site. As the market has been preparing for the regulation, several other companies have been launching software to help clients comply with the new regime, including Paladyne Systems and Imagine Software.
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