Quadriserv
Quadriserv was a US-based electronic trading platform that helped clients lend and borrow stock for settlement of short sales and other purposes.[1][2] It was headquartered in New York and was the holding company for its subsidiary, Automated Equity Finance Markets (AQS).
In August 2016, AQS was acquired by Equilend.[3]
QS Holdco sued Equilend and other prime brokers arguing they colluded to drive out AQS.[4] In August 2019, the case was dismissed on the basis that Equilend, in the acquisition, had acquired all rights to take legal action on behalf of AQS.[5] QS Holdco's attempt to amend the complaint was denied, in full, in August 2020.
History
[edit]Quadriserv was founded in September 2001. Joseph Weinhoffer was the company's co-founder and served as its CEO between 2007 and 2009.[2]
Quadriserv's wholly owned subsidiary Automated Equity Finance Markets, Inc. operates what it regards as the world's largest central counterparty based lending market.[6][7][8]
In 2009, it entered into an alliance with Direct Edge.[9] In 2010, it integrated AQS with SunGard's Loanet Smart Loan.[10][11]
Management
[edit]Joseph Weinhoffer is the company's co-founder and was its CEO in 2007.[2][12] Tom Perna was the company's CEO in 2009, and Bruce C. Turner, a former Nasdaq and CIBC World Markets trading executive, was the company's president and COO in 2011.[1][13][14]
References
[edit]- 1 2 Smith, Randall (November 23, 2011). "Groupon Shares Backpedal". The Wall Street Journal. Retrieved April 22, 2014.
- 1 2 3 "The Legends; Joe Weinhoffer". Global Custodian. March 17, 2013. Archived from the original on April 24, 2014. Retrieved April 22, 2014.
- ↑ "Equilend Acquires AQS To Facilitate OCC CCP Connectivity For Securities Finance Market". Equilend. August 1, 2016.
- ↑ "QS Holdco claims new evidence for antitrust case - Securities Finance Times". www.securitiesfinancetimes.com. Retrieved January 16, 2026.
- ↑ "Judge dismisses QS Holdco lawsuit against prime brokers based on claim ownership". Finadium. August 8, 2019.
- ↑ Schwartz, Robert A.; Byrne, John Aidan & Schnee, Gretchen (2012). Rethinking Regulatory Structure. New York City: Springer New York. ISBN 978-1-46144-373-5. Retrieved April 22, 2014.
- ↑ "Securities Act of 1934 Release No. 34-59294". SEC Docket. 95 (2). Washington, DC: United States Securities and Exchange Commission: 129. August 24, 2009. Retrieved April 22, 2014.
- ↑ "Quadriserv Offers HFs Direct Access to AQS". Institutional Investor. March 18, 2010. Retrieved April 22, 2014.
- ↑ "Direct Edge Inks Stock Lending Deal". Institutional Investor. July 16, 2009. Retrieved April 22, 2014.[permanent dead link]
- ↑ "SunGard Extends Loanet Integration With Quadriserv's AQS". Wall Street & Tech. October 6, 2010. Retrieved April 22, 2014.[permanent dead link]
- ↑ "Quadriserv expands relationship with SunGard to support securities lending initiatives". Automated Trader. May 8, 2013. Archived from the original on September 4, 2014. Retrieved April 22, 2014.
- ↑ Alpha. 2007. Retrieved April 22, 2014.
- ↑ Security Dealers of North America. New York City: Standard & Poor. 2010. Retrieved April 22, 2014.
- ↑ Bresiger, Gregory. "Boosting Securities Lending at Quadriserv". Traders Magazine. Archived from the original on March 4, 2016. Retrieved April 22, 2014.