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Products June 8, 2001
Lehman Offers Pricing Tool for Short Sellers
August 6, 2001 (PLANSPONSOR.com) - Institutional
investors, hedge funds and broker dealers who short stocks
can now find prices via Lehman Brother's online stock loan
platform, LehmanLive.
Reported by Camilla Klein
The platform, launched by Lehman Brothers’ equity finance group makes markets a little more transparent, showing clients live offers for securities and making them less dependent on Bloomberg and the telephone for stock availability and prices.
The pricing service is being rolled out to clients this month and is available free of charge to clients who short stocks and need to borrow securities. Of course, clients have to pay to borrow the stock. The system allows clients to locate single and multiple stocks and see the fee or rebate that is offered.
The application is designed to save clients time in locating stock, as well as making it easier to access Lehman’s pools of assets. If a client decides to trade or go firm on a borrow, the trade is executed online and automatically booked to the client’s account.
Clients also have access to prime brokerage services, as well as swaps and CFD reporting online. Lehman offers lenders the ability to manage recalls online and clients will soon be able to return borrowed stock, as well as borrowing new stocks online.