LocateStock Platform Available Via ConvergEx Eze OMS
March 30, 2010
LocateStock, a provider of electronic short sale locates to every sector of the trading community, said Tuesday that its real-time stock locate platform, Matador, is now available through ConvergEx Group’s Eze OMS (order management system).
Building upon Eze’s recently redesigned and enhanced short locate product, Eze Locate, this integration will give Eze users additional means for short selling by offering instant point-and-click access to LocateStock's $50 billion pool of available securities, according to ConvergEx.
“In a time of increased fragmentation, institutional traders need every tool available to access hard-to-borrow stocks,” said John Dolan, director of Advanced Program Management at ConvergEx’s Eze Castle Software. “By adding the power of Matador to Eze Locate, clients have additional ways to source hard-to-borrow liquidity, while saving valuable time that might be lost from a lengthy call to a trade desk.”
John Tabacco, founder of LocateStock, said his firm's trading solution will give Eze users added ways to trade immediately on news and market movements.
“This integration is a natural complement to the new streamlined functionalities of Eze Locate and further eliminates manual operational demands that traditionally have added friction and slowed the short selling order flow process,” said Tabacco.
The LocateStock application programming interface located and processed over 8 billion shares in 2009. LocateStock was introduced in 2005 as the first-to-market solution to assist broker dealers and hedge funds with adhering to the new guidelines in Regulation SHO.