Wedbush Securities Launches Cutting-Edge Locate Service
Wedbush Securities, a prominent financial services firm, is excited to unveil its latest innovation—a real-time automated locate service aimed at transforming how broker-dealer correspondents manage their short-selling activities. This pioneering service simplifies the process of obtaining locates for easy-to-borrow and hard-to-borrow securities, thus elevating efficiency in the fast-paced trading environment.
Revolutionizing Short-Selling Activities
The introduction of this automated locate system marks a significant advancement for clients engaged in short selling. This system is engineered for swift and seamless operation, allowing correspondents to secure locates before executing short-sale orders. By integrating cutting-edge technology with a broad inventory sourced from some of the largest lenders, Wedbush provides users with quick access to essential borrowing capabilities, specially tailored for today’s market demands.
Real-Time Access and User-Friendly Features
With this new service, clients can submit locate requests through an efficient API or an intuitive online portal. The fulfillment process is transparent, ensuring that users can easily track their requests. Key features include:
- Instant access to lists of easy-to-borrow and hard-to-borrow securities via API.
- Comprehensive information on pre-borrows and indicative pricing for hard-to-borrow assets.
- A robust integrated ecosystem crafted to address the increasing demands of the borrowing market.
- A dedicated and experienced securities lending team fostering strong relationships with leading financial institutions to support clients’ needs.
Insights from Leadership
Rob Paset, Co-Head of Multi-Asset Clearing and Prime Services at Wedbush, remarked on the significance of this development: “Many of our correspondent’s clients include short selling as part of their strategy. In our continuous effort to expand the tools we offer, a fast automated locate and borrow system was the next logical step to better serve their needs.” His insights underline the firm’s commitment to meeting the evolving demands of its clientele.
About Wedbush Securities
Wedbush Securities stands as a premier leader in the financial services landscape, providing a wide array of brokerage, wealth management, and investment banking services tailored for individuals, institutions, and corporate clients. The firm not only specializes in equity and futures clearing but is also among the select few registered swap dealers within the United States. With a rich legacy of trust and innovation, Wedbush is dedicated to empowering its clients with comprehensive financial solutions and unmatched industry expertise.
Frequently Asked Questions
What is the purpose of Wedbush Securities' new locate service?
The new locate service aims to streamline the process for broker-dealer correspondents, enabling them to efficiently obtain locates for short-selling activities.
How does the automated locate service work?
Clients can use an API or an online portal to request locates, which are fulfilled in real time, offering easy visibility into the process.
Who can benefit from this service?
Broker-dealer correspondents and their clients that engage in short selling will find this automated service particularly beneficial.
What key features does the service provide?
The service includes real-time access to borrow lists, indicative pricing for securities, and support from an experienced lending team.
What is Wedbush Securities known for?
Wedbush Securities is recognized for its extensive range of financial services, including securities brokerage and investment banking, alongside a commitment to client empowerment through innovative solutions.
