Cantor Fitzgerald Adds Electronic Security Locate System To Prime Services Offering
NEW YORK, Feb. 19, 2013 /PRNewswire/ -- Cantor Fitzgerald & Co., today announced that Cantor Prime Services Group will add a new electronic "security locate" system with external connectivity to its existing full-service, multi-asset prime brokerage platform. The system will enable hedge funds, proprietary trading firms and others the opportunity to borrow through the firm's new locate system.
Shawn P. Matthews, Chief Executive Officer of Cantor Fitzgerald & Co., said, "We are constantly looking for ways to strengthen our market franchise and develop services that exceed client expectations. This new functionality is an example of our ability to add value for clients, and I am extremely pleased with the positive response we have received thus far."
Noel Kimmel, Global Head of Cantor Prime Services and CEO of Cantor Clearing, said, "Our current roster of clients already benefits from our securities lending activity, but now we will be able to expand our offering to a wider reach and scope of clients. Cantor Prime Services is consistently investing in technology and this build out is a testament to our promise of delivering a superior, custom-tailored client experience. We will continue to strengthen our platform and evolve to serve the growing pool of clients and their unique needs."
"The system gives traders, the opportunity to trade 'Hard to Borrow' securities when they cannot source them through their normal channels," said Allen Wolkow, Head of Securities Lending at Cantor Prime Services. "In addition, active credit lines with the majority of prime brokers and clearing firms enable us to physically make delivery of the located shares. The system can communicate with any electronic trading platform or it can be used by individuals on a trading desk."
About Cantor Fitzgerald
Cantor Fitzgerald, a premier global financial services firm at the forefront of financial and technological innovation, has been a proven and resilient leader for over 65 years. Cantor is a preeminent capital markets investment bank serving more than 5,000 institutional clients around the world in institutional equity and fixed income sales and trading and is recognized for its strengths serving the middle market with investment banking services, prime brokerage, and commercial real estate financing. Cantor Fitzgerald also is a leader in new businesses including advisory and asset management services, gaming technology, e-commerce, and other ventures. Cantor Fitzgerald & Co. is one of 21 primary dealers authorized to trade U.S. government securities with The Federal Reserve Bank of New York. Cantor Fitzgerald's 1,600 employees serve clients through over 30 locations, including major financial centers around the world in the Americas, Europe, Asia/Pacific and the Middle East. For more information please visit www.cantor.com
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