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Customers & CapitalMarketsDelta One & Prime Brokerage

Securities Financing & Locates Agent

Sources locates, prices financing, and manages the stock-loan book.

Sources borrow availability directly from counterparty agents, prices the financing leg, and reconciles the locate/recall ledger. Returns a sourced, priced answer per request with the audit trail attached; rate or size past preset limits holds until the accountable desk head clears it against the risk agent's recompute.

Authority

Recommend for approval

Team role

Completes a defined task

Handoffs

Named collaborators

The role

What it owns and where its authority ends

Desk

Delta One & Prime Brokerage

Desk workflow

Basket and swap pricing feeds the replication hedge, then financing, margin and locates, then client reporting. Locate sourcing and margin calls run as agent loops behind pre-trade limits and the accountable desk head's approval.

Collaboration

Coordinates parallel monitors or workers

Decision boundary

An accountable reviewer commits the decision or action.

Systems and capabilities involved

  • Stock-loan platform

  • Counterparty availability (agent-to-agent)

  • Financing-rate service

  • Accountable desk head approval

    desk head clears beyond-limit financing; risk agent recompute attached

Handoffs

What this role gives and receives

Capabilities offered

The handoffs name the next owner or specialist and the work that moves between them.

Receives from

External handoff

Operations (Settlements) for loan booking

Context

What the role needs to do the work

Current work
The locate request, availability quotes, current book.
Prior interactions
Counterparty borrow history and reliability.
Policies and reference
Hard-to-borrow rates, recall rules, financing conventions.
Working method
Not specified for this role.

Checks and boundaries

What must be tested or reviewed

  1. 01No beyond-limit financing commits without the desk head's approval and the risk agent's recompute.
  2. 02Locate-to-fill accuracy reconciled daily against settled loans.
  3. 03Recall-deadline guardrail; breaches escalate to the accountable desk head.

Human authority

An accountable reviewer commits the decision or action.

Keep exploring

More agents in Delta One & Prime Brokerage

Basket Replication & Hedging AgentReplicates index/basket exposure and proposes the hedging trades.Prime Margin & Reporting AgentComputes prime-brokerage margin, issues calls, and assembles client reports.