Convergex Prime Services Enhances Its Securities Lending Offering

Convergex has nnounced 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.