S3’s new tool offers one-click compliance and connectivity for proposed daily and monthly short selling reporting requirements
Technology and data analytics company S3 Partners has released a reporting and filing dashboard in response to the SEC’s February 25, 2022 announcement of the new Rule 13F-2, which is designed to increase market transparency regarding short selling.
“This new rule from the SEC represents a massive shift in how buy side participants will have to monitor and file short positions. The rule introduces a whole new regulatory requirement and risk on asset managers; S3 has always been an innovative force in data analytics and workflow solutions, and our goal was to show how quickly we will help clients and the broader industry. 24 hours after the SEC released details of the new 13F-2 rule, we are ready to solve this headache for hedge funds, asset managers and allocators. I couldn’t be prouder of our team and more excited to bring one-click compliance and connectivity to help the asset management industry navigate 13F-2,” said Bob Sloan, Managing Partner and CEO of S3 Partners.
Under the SEC’s proposed rule, fund management companies will be required to file gross short positions greater than or equal to $10 million or monthly average gross short positions greater than or equal to 2.5% (as a percentage of shares outstanding). In addition, funds will be required to file daily trading activity that affects a manager’s reported gross short position for each settlement date during the calendar month reporting period.
“The end goal of the SEC’s new rule is transparency, which is an outcome that will benefit all market participants. However, the reporting requirements to get to this market transparency will be extremely onerous for fund management companies. S3 adds immediate value by removing operational complexity and providing our clients with best-in-class execution,” added Sat Bhattacharya, S3’s Chief Technology Officer.
Rule 13F-2 is currently open for a public comment period over the next 60 days. In the meantime, S3 is offering the tool complimentary to help managers better prepare for this seismic shift in reporting. Buy side market participants can plug their current portfolio holdings into the S3 dashboard to gain instant transparency and education regarding their exposure to 13F-2 filing requirements. When the new 13F-2 rule is live, users will also be able to file directly to the SEC’s EDGAR system with one click of a button. For more information, please contact S3 Partners at sales@s3partners.com.
S3 Partners| The Ultimate Information Source and Workflow Platform
S3 Partners is a leading technology and financial data analytics company that allows Buy and Sell Side market participants to obtain a clear and accurate picture of capital markets trading activity in real time. S3 Partners provides the highest quality and most timely data for market Financing Rates (bid/ask/last), Short Interest, Float, Open Interest (Long Positions), and Proprietary Indexes (Squeeze, Crowded, Momentum). S3’s most used product, BLACK APP, is the market standard for real-time Short Interest and Securities Finance data for more than 65,000 securities on desktops globally. S3’s Financing OMS allows trading professionals to aggregate, optimize and score Position, Holdings, Cash, Margin and Swap Positions and enhances outcomes across the total life cycle of any trade—financing, derivatives and cash. S3 is the market standard source for the financial news media such as Bloomberg, WSJ, CNBC and FT. For more information, visit https://www.s3partners.com/.
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