Move comes ahead of new rules soon to be implemented by the Hong Kong Securities and Futures Commission.
Investment management software vendor Linedata has announced the availability of a solution designed specifically to meet the Hong Kong Securities and Futures Commission’s (SFC)'s new short position reporting requirements.
Testing began in April and May. Investment managers extracting data from Linedata's Beauchamp portfolio management system (PMS) will have access to reporting that details whether a stock is designated on the short selling list, and then whether the short position is equivalent to the lesser of either HKD30 million ($3.87 million) or .02 percent of total share capital.
"We have released these reports to our local clients over the past few weeks, and over three-quarters of them have adopted the solution. The robust, centralized database in Linedata Beauchamp means that all the data needed to meet this new reporting requirement is there and we have created these two reports to streamline the process, saving our clients time and effort, says Sally Crane, Linedata's managing director for Asia-Pacific.
The move follows a similar announcement from agency broker ConvergEx in May, which updated its Eze OMS last month ahead of implementation of the new rules later this month.
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails