Securities Lending

Gar Wood Securities, LLC leverages the securities lending expertise of its clearing firms J.P. Morgan Clearing and Penson Financial Services. J.P. Morgan Clearing is one of the industry’s leading borrowers of U.S. securities, a strong participant in the international markets, and a long-standing service provider for the hedge fund community. J.P. Morgan Clearing’ stock loan professionals help our clients access a variety of both internal and street lending portfolios.

Through J.P. Morgan Clearing Global Electronic Stock Loan ℠ (ESL) website, clients can access the firm’s Stock Loan Desk and search the easy- and hard-to-borrow lists to receive automated, real-time approvals for short positions. The interactive locator feature requires only the stock symbol and number of shares to instantly determine availability for shorting. For most requests, this application’s easy-to-borrow function eliminates the need to call the Stock Loan Desk for approval, significantly expediting the process.

Through Penson Financial Services, clients have the option of utilizing their securities lending desk or its highly advanced technological system to execute securities loans. Penson’s advanced technology (Sendero locate system) enables correspondents to manage and receive rapid responses to locate requests, making locate request processing significantly more efficient than the traditional method. Penson is well-positioned to accept distributions of hard-to-borrow securities. Its securities lending business capabilities include financing, settlements, short sales, arbitrage, derivatives and program trading recalls & buy-in situations. Penson has its own short sale locate hotline and the Sendero locate system.