AtlasClear Holdings, Inc. announced an engagement with LocBox to utilize its stock loan inventory management platform and corresponding API. This partnership is intended to expand the capabilities of AtlasClear's correspondent clearing platform through its subsidiary, Wilson-Davis.
The company aims to capitalize on the hard-to-borrow inventory for stock lending that resides within Wilson-Davis. President Craig Ridenhour stated that fully paid lending is an underutilized business line for Wilson-Davis, and this technology is expected to significantly improve revenues.
LocBox's web-based platform provides a transparent and efficient market for monetizing hard-to-borrow inventory, offering legal compliant locates and preborrows for short sellers. This technology is designed to ensure short sale executions with full compliance, reducing settlement risks.
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