NEW YORK, Feb. 26, 2008 (PRIME NEWSWIRE) -- Quadriserv, Inc., a pioneering provider of price transparency and efficiency to the securities lending industry, today announced that it has launched Aquas(tm), a secure, interactive portal that provides an aggregated view of supply and demand to securities lenders, borrowers and market intermediaries. Aquas(tm), which was developed by veterans from the prime brokerage and securities lending industries, offers the following key features:
* Fast, accurate and transparent daily lending rates and historical market data accumulated from participants representing the entire securities lending supply chain
* Analytics, synthetic products, and trading tools that inform investment decisions
* A Web-based, trader's console environment
* Cooperation and participation from a diverse universe of lenders, thereby enhancing the quality of the underlying securities lending data and providing a foundation for continued advancement of the product.
"Like most over-the-counter products, securities lending is characterized by fragmented pools of liquidity, lack of market structure, and processing inefficiencies," stated Joseph Weinhoffer, Quadriserv's Founder and Chief Executive Officer. "Aquas(tm)' true innovation is its ability to address these shortcomings by aggregating the many disparate supply and demand sources, and providing lenders and borrowers with the data they need to assess the fair market value of their transactions. This is a critical step towards the realization of a true securities lending marketplace, the development of which remains a key corporate objective."
"Hedge funds and beneficial owners alike are focused as never before on realizing the intrinsic value of their securities lending operations -- an effort that has historically been stymied by a lack of accessible data and opaque market dynamics," added Quadriserv's Co-Founder Gregory W. DePetris. "Aquas(tm) addresses these shortcomings by allowing lenders to interact with a broader universe of borrowers, and in the process better measure the value of their securities. Similarly, borrowers are able to interact with a diverse universe of lenders, allowing them to be better informed and manage their equity finance businesses more profitably. We are delighted with the initial market reception to Aquas(tm), and look forward to advancing its development."
About Quadriserv Inc.
Founded in 2001 by a group of industry veterans, Quadriserv is a NASD broker/dealer that enhances the efficiency of the securities lending industry through the operation of an automated securities lending marketplace. Quadriserv provides confidential, un-conflicted daily price discovery and transparency by anonymously and directly connecting borrowers and lenders of securities. As a result, beneficial owners better realize the full intrinsic value of the securities they are lending, while hedge funds and other asset managers reduce short-selling costs by borrowing securities directly from beneficial owners of assets. The Company's strategic investors include, among others, Bessemer Venture Partners and Renaissance Technologies. For more information, please visit: www.quadriserv.com