NEW YORK, Feb. 11, 2016 /PRNewswire/ -- Convergex, an agency-focused global brokerage and trading related services provider, is pleased to announce that Convergex Prime Services has enhanced its current securities lending offerings by adding fully-paid for lending capabilities, allowing investors to potentially generate additional income in their portfolios. By integrating with Convergex's Global Clearing, Convergex Prime Services is able to offer an enhanced securities lending offering to its larger hedge fund clients and third party institutional investors, while aggressively seeking the most competitive rates available.
The Convergex Prime Services team offers a full-range of services to each client including opening and monitoring accounts, cross referencing securities and customized reporting capabilities. In addition, the team is focused on providing investors the ability to lend out and generate additional interest income on fully-paid-for or excess margin securities.
"At Convergex, our securities lending professionals seek to ensure that every client receives the maximum value for their securities loaned," said Doug Nelson, Convergex executive managing director and head of global clearing and prime services. "In addition to monitoring our client positions throughout the day, all loans are fully collateralized and marked to market," said Nelson.
In addition, Convergex Prime Services recently entered into a clearing agreement with INTL FCStone Financial Inc. that enables Convergex to offer its clients access to FCStone's futures execution capabilities and prime brokerage platform. With FCStone, Convergex Prime Services can offer its clients 24-hour trading access and full portfolio and risk reporting features traditionally only available to larger hedge fund managers.
Convergex Prime Services is a leading provider of integrated prime services to hedge funds, family offices, mutual funds, and registered investment advisors (RIAs). Its customized, high-end execution solutions include direct market access (DMA) platforms, multiple custody and clearing options, advanced pre- and post-trade analytics, access to securities lending providers, and capital introduction services. By combining boutique-firm service levels and pricing with professional clearing and prime brokerage services, Convergex offers a prime services package previously available only to the largest institutions.
Convergex is an agency-focused global brokerage and trading related services provider that takes on the industry's toughest challenges, from complicated trades to complex businesses. With clients' interests as the top priority, Convergex delivers comprehensive solutions that span global high-touch and electronic trading, options technologies, prime brokerage, clearing, commission management and beyond. Headquartered in New York with a presence in several other locations including Atlanta, Boston, Chicago, Orlando, San Francisco and London, the company serves nearly 3,000 clients accessing over 100 global market centers.
Convergex is an agency-focused global brokerage and trading related services provider. In the U.S., Convergex offers products and services through Convergex Execution Solutions LLC (member NYSE/FINRA/NFA/SIPC), of which Convergex Prime Services is a division; Westminster Research Associates LLC (member FINRA/SIPC); and Convergex Solutions LLC, of which Connex, Jaywalk and LDB are divisions. In London, Convergex operates through Convergex Limited, which is incorporated in England and Wales (registered with company number 06262150). Convergex Limited is authorized and regulated by the Financial Conduct Authority (FCA) of the United Kingdom. Westminster Research Associates LLC provides services in Australia pursuant to an exemption from the requirement to hold an Australian financial services license under the Corporations Act 2001 (ASIC Class Order [CO 03/1100]). Westminster is regulated in the United States by the U.S. Securities and Exchange Commission, which laws differ from those of Australia.
Convergex provides brokerage services primarily on an agency basis, but may operate in a riskless principal and/or net trading capacity, and in connection with certain ETF or ADR transactions, may act as principal or engage in hedging strategies. Convergex does not engage in market making or investment banking activities, other than as a selling group member.
The material, data and information (collectively "Convergex Information") that is available from Convergex is intended for institutional investor use only; is for informational purposes only; is subject to change at any time; is not intended to provide tax, legal or investment advice; and does not constitute a solicitation or offer to purchase or sell securities. Convergex Information is believed to be reliable, but Convergex does not warrant its completeness or accuracy and Convergex assumes no duty to update such information. Clients should read their account agreement(s) and documentation with Convergex carefully as those documents contain important information and disclosures about the products or services covered thereby. Convergex is not responsible for third-party information or services, including market data from the exchanges. (Rev. 12/2015)