Wedbush Securities announced the launch of fast and efficient services for easy-to-borrow, locates and hard-to-borrow securities. This service is designed to allow its correspondents to conduct short-selling activity more efficiently.
The fully automated locate system enables correspondents to secure locates via API in real time before executing short sale orders. The system leverages deep inventory from some of the world’s largest lenders, providing quick and seamless access to secure locates in a fast-paced market. Clients can submit locate requests using either the API or an online portal, with real-time fulfillment visibility.
Key features:
- Real-time access to easy-to-borrow, locates, and hard-to-borrow lists via API
- Extensive access to pre-borrows and indicative pricing for hard-to-borrow securities
- An integrated ecosystem designed to meet the growing demands of borrowing markets
- A highly experienced securities lending team with strong relationships with leading financial institutions dedicated to supporting correspondents’ borrowing needs
Rob Paset, co-head of Multi-Asset Clearing and Prime Services, said in a statement: “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.”