SS&C Eze has added its Locate feature – a fully-integrated tool that automates the locate process for short orders – to Eze Eclipse.
Locate ensures that Eze Eclipse users are able to see indicative rates across their connected counterparties, automating and informing their allocation decisions.
Eclipse is currently connected to the largest prime brokers and other providers of securities financing in the space and continues to expand that roster.
“The ability to quickly and efficiently execute short orders, while being fully compliant with increasingly stringent regulatory requirements, is core to the success of hedge fund operations,” says Eric Christofferson (pictured), Managing Director, Product & Engineering, SS&C Eze. “Start-up and emerging funds need a way to easily and reliably find inventory, compare rates and build a reliable audit trail. The addition of the Locate tool to Eze Eclipse allows users to accomplish this in just a few clicks from their desktop.”
SS&C Eze first introduced its proprietary automated Locate process within Eze OMS. This process created a standard messaging protocol that allows SS&C Eze platforms to easily connect with prime brokers and other providers of security financing. Users can request a list of securities across connected counterparties, compare rates, and draw down from that inventory while working short orders. Compliance rules can be enabled to ensure that amounts traded match the available inventory, ensuring that the manager has enough located to settle the trade.