AtlasClear Holdings announced they have signed an engagement with LocBox to use their stock loan inventory management platform and corresponding API.
“We are very excited about this partnership and the expanded capabilities LocBox brings to our correspondent clearing platform through Wilson-Davis. We believe that fully paid lending is an underutilized line of business for Wilson-Davis. This technology will allow us to capitalize on the hard-to-borrow book for stock lending that is resident within the Company. We believe our partnership with LocBox is aligned with our fintech culture and will allow us to significantly improve revenues,” said Craig Ridenhour, president at AtlasClear Holdings, in a statement.
LocBox is a web-based stock loan inventory management platform with a corresponding API. LocBox empowers entities to monetize their Hard-To-Borrow inventory by making it available to short sellers in need of Legal Compliant Locates and Preborrows.
By providing traders with reliable and verifiable locates, LocBox ensures short sale executions with full compliance, reducing settlement risks and eliminating the possibility of naked short selling. The PreBorrow is the simple solution for the age old problem of naked short selling. This creates a transparent and efficient market, giving traders confidence that their short positions are backed by legitimate inventory.