Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced that it has made available to clients a solution which meets the Hong Kong Securities and Futures Commission (SFC)’s requirements for reporting short positions.
Linedata now has over 75% of its local customer base using reports which extract data from Linedata Beauchamp, the firm’s award-winning portfolio management solution. The company worked on the reports as soon as the new short selling rules were announced and offered this solution to all its clients investing in Hong Kong throughout April and May. Clients have access to one report which, as required by the SFC, details whether a stock is on the short selling list and needs to be reported; whether the position is equivalent to HKD 30 million, or whether its equivalent to 0.02% of share capital. They are also offered a more detailed report for their own use, which enables them to see all the data underpinning each criterion.
“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, centralised 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. Although we’re a global company, with the leverage and reach you’d expect, we also aim to supply great local service and support our clients here on the ground in Asia,” explains Sally Crane, Linedata’s Managing Director for Asia Pacific. “Linedata Beauchamp is a flexible, configurable system which enables either the client or us to quickly adapt to new regulations and other reporting and compliance requirements with ease,” she concludes.