SunGard's Protegent suite of compliance solutions supports financial services firms' efforts in managing the temporary, emergency short-selling ban enacted by the Securities Exchange Commission (SEC) on the shares of more than 800 financial companies. Current Protegent customers are already equipped to rapidly comply with the order and closely monitor short selling trends of employees.
The latest release of Protegent PTA, an employee trading and code of ethics compliance solution, provides rule logic to help firms monitor and prevent short selling of securities of the publicly-traded financial services firms on the SEC's list. Protegent PTA's new "Restricted List by Activity Type" rule logic, as well as its existing short selling rule, helps firms to prevent the short selling of these securities. SunGard is providing a restricted list of the included financial firms to customers of the latest version of Protegent PTA that can easily be uploaded into the application, as well as issuing step-by-step documentation on how to configure, test, and implement the rule.
Protegent Trading Compliance, a compliance lifecycle and business management solution for institutional equities trading businesses, provides firms the ability to monitor all sell short customer orders for securities located on the threshold list. This information is archived, maintained for three years, and readily accessible within Protegent Trading Compliance. With this information readily available in one system, firms can perform their due diligence, research and surveillance on any short sale transaction in any security on a threshold list. Protegent Trading Compliance also provides the tools to monitor, research, and react to regulatory inquiries in a timely fashion.
SunGard's Protegent Surveillance, a software application for brokerage compliance, is able to highlight the potentially unsuitable activity associated with short selling and naked short selling, through its T + 1 alerting feature. As a rules-based compliance solution, Protegent Surveillance helps mitigate internal and regulatory risk by identifying questionable transactions and positions, improving field supervision processes and audits and analyzing client and account activity against firm defined mandates.
"Financial services firms consistently rely on SunGard to help them quickly adapt to volatile market conditions and corresponding regulatory changes," said Raj Mahajan, president of SunGard's Trading business. "Our customers can continue to depend on our ability to respond proactively to these changes to help them to maintain compliance and protect the interests of their firms and clients."
Showing posts with label short-selling. Show all posts
Showing posts with label short-selling. Show all posts
Tuesday, 7 October 2008
Saturday, 20 September 2008
Trading Today
* The SEC has banned short-selling of financial companies.
* The US Treasury has guaranteed money markets up to $50bn
* The Federal Reserve will buy mortgage agency notes and lend money to ease pressure on the funds.
* The FTSE surged 8.84% with the largest daily rise since 1987
* The US Treasury has guaranteed money markets up to $50bn
* The Federal Reserve will buy mortgage agency notes and lend money to ease pressure on the funds.
* The FTSE surged 8.84% with the largest daily rise since 1987
Thursday, 18 September 2008
SEC Bans Financial Firm Short Selling
A temporary ban on short-selling of 799 US financial firms has been imposed by The Securities and Exchange Commission, in a move that followed that by the UK's Financial Services Authority. Further companies might be bought into the net.
The S.E.C. said the “temporary emergency action” would “protect the integrity and quality of the securities market and strengthen investor confidence.”
“The commission is committed to using every weapon in its arsenal to combat market manipulation that threatens investors and capital markets,” the S.E.C.’s chairman, Christopher Cox, said. He continued “The emergency order temporarily banning short selling of financial stocks will restore equilibrium to markets.”
A similar ban in London was seen as a catalyst for the massive 8.84% surge in the FTSE 100. However, it should be remembered that the US has had previous bans on short-sellling plus a long-standing rule that says short-selling take place on an uptick.
The S.E.C. said the “temporary emergency action” would “protect the integrity and quality of the securities market and strengthen investor confidence.”
“The commission is committed to using every weapon in its arsenal to combat market manipulation that threatens investors and capital markets,” the S.E.C.’s chairman, Christopher Cox, said. He continued “The emergency order temporarily banning short selling of financial stocks will restore equilibrium to markets.”
A similar ban in London was seen as a catalyst for the massive 8.84% surge in the FTSE 100. However, it should be remembered that the US has had previous bans on short-sellling plus a long-standing rule that says short-selling take place on an uptick.
Trading Today
* The SEC has banned short-selling of financial companies.
* The US Treasury has guaranteed money markets up to $50bn
* The Federal Reserve will buy mortgage agency notes and lend money to ease pressure on the funds.
* The FTSE surged 8.84% with the largest daily rise since 1987
* The US Treasury has guaranteed money markets up to $50bn
* The Federal Reserve will buy mortgage agency notes and lend money to ease pressure on the funds.
* The FTSE surged 8.84% with the largest daily rise since 1987
Trading Today
* The SEC has banned short-selling of financial companies.
* The US Treasury has guaranteed money markets up to $50bn
* The Federal Reserve will buy mortgage agency notes and lend money to ease pressure on the funds.
* The FTSE surged 8.84% with the largest daily rise since 1987
* The US Treasury has guaranteed money markets up to $50bn
* The Federal Reserve will buy mortgage agency notes and lend money to ease pressure on the funds.
* The FTSE surged 8.84% with the largest daily rise since 1987
Monday, 15 September 2008
Credit Crunch Today
AIG
American Insurance Group
American Insurance Group
Largest Insurance firm in the US.
BofA
Bank of America
David Paterson
Governor of New York
Distort and Short
Strategy allegedly used by some short-sellers to drive down the share price of companies.
John Thain
Last CEO of an independent Merrill Lynch (2008)
Lehman Brothers
Once great investment bank bought down in the Credit Crunch.
Lehman Brothers International (Europe)
Lehman Brothers European subsidiary based in London.
Naked short-selling
Short selling where the seller does not borrow the shares first.
Short-sellers
Traders who aim to profit from share declines. Typically they borrow a stock, sell it and buy it back after its price has decreased.
American Insurance Group
American Insurance Group
Largest Insurance firm in the US.
BofA
Bank of America
David Paterson
Governor of New York
Distort and Short
Strategy allegedly used by some short-sellers to drive down the share price of companies.
John Thain
Last CEO of an independent Merrill Lynch (2008)
Lehman Brothers
Once great investment bank bought down in the Credit Crunch.
Lehman Brothers International (Europe)
Lehman Brothers European subsidiary based in London.
Naked short-selling
Short selling where the seller does not borrow the shares first.
Short-sellers
Traders who aim to profit from share declines. Typically they borrow a stock, sell it and buy it back after its price has decreased.
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